Australia Unemployment Rate Falls to 6.1% in August

Australian jobless rate decreased to 6.1 percent in August of 2014 from a 12-year high of 6.4 percent reported in July. The economy added 121 thousand jobs, the highest monthly gain on record, driven by part-time employment.

The number of employed persons increased by a seasonally adjusted 121,000 in August 2014 to 11,703,500, following a decrease of 4,100 persons in July 2014. Full-time employment rose 14,300 to 8,094,300 and part-time employment increased 106,700 to 3,609,200. The number of unemployed persons decreased by 33,500 to 755,100, following an increase of 41,800 in July 2014. 

The seasonally adjusted underemployment rate increased 0.7 percentage points from May 2014 to 8.5 percent in August 2014. Combined with the August unemployment rate of 6.1 percent, the latest seasonally adjusted estimate of total labor force underutilisation increased 1.0 percentage points to 14.6 percent in August 2014. In trend terms, the underemployment rate increased 0.4 percentage points to 8.2 percent in August 2014 and total labor force underutilisation increased 0.4 percentage points to 14.3 percent.

August 2014 saw the seasonally adjusted participation rate increase by 0.4 percentage points (based on unrounded estimates) to 65.2 percent. The trend participation rate increased 0.1 percentage points to 65.0 percent in August 2014. The employment to population ratio, which expresses the number of employed persons as a percentage of the civilian population aged 15 years and over, increased 0.6 percentage points to 61.3 percent (seasonally adjusted).

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9/11/2014 12:58:55 PM