Australian Employment Rate Steady for last eight months
After having the Employment rate at a healthy rate for the last eight months, the Unemployment rate has reached a high in July. The rise in the unemployment rate has been just 5.1 percent in July from 4.9 percent a month earlier.
The ABS monthly aggregate hours worked series showed an increase in July, up 3.6 million hours to 1,621.4 million hours.
The number of workers fell by 100 after a revised 18,200 gain in June. According to reports even though there was a reduction in full time jobs , it was compensated by a rise in part time jobs.
While the retail sector in Australia has been showing a downtrend the mining sector is still booming with more jobs available as the projects get in motion.
“The increase in resources exports will boost GDP outcomes over coming quarters, although the rebound is likely to be more protracted than previously expected,” the RBA said last week in its quarterly monetary policy statement. Australia’s third-largest oil producer, and BG Group Plc, the U.K.’s third-biggest gas producer, will start hiring the first of more than 10,000 construction workers needed for this massive two projects later this year
The ABS reported the number of people employed remained relatively unchanged at 11,450,500 in July. A decrease in full-time employment, down 22,200 people was offset by an increase in part-time employment, up 22,100 people.
Here are some key figures from abs.gov.au
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