Australia Jobless Rate Steady At 7-Month Low of 5.6% In June
Australia's seasonally adjusted unemployment rate remained unchanged at 5.6 percent in June of 2017 from an upwardly revised 5.6 percent in May and consistent with market estimates. The jobless rate remained at its lowest level since October 2016, as the economy added 14,000 jobs while the number of unemployed increased by 13,100.
In June, the seasonally adjusted labour force participation rate increased to a 17-month high of 65.0 percent from 64.9 percent in the previous period, above market expections of 64.9 percent.
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Employment increased by 14,000 to 12,166,900, slightly short of market estimates of a 15,000 increase: full-time employment increased by 62,000 to 8,356,000 while part-time employment decreased by 48,000 to 3,810,800.
Unemployment rose by 13,100 to 728,100. The number of unemployed persons looking for full-time work advanced by 9,200 to 500,600 and the number of unemployed persons only looking for part-time work rose 3,900 to 227,500.
Of those employed, underemployment still hovered near record highs at 9.3 percent.
Seasonally adjusted aggregate monthly hours worked in all jobs increased 8.9 million hours (+0.5 percent) to 1,703.5 million hours, and the seasonally adjusted employment to population ratio stood steady at 61.3 per cent.