The latest ABS data shows that Australia’s estimated seasonally adjusted unemployment rate for July 2015 was 6.3 per cent, an increase of 0.3 percentage points (based on unrounded estimates) from a revised 6.1 per cent for June 2015. The trend (which smooths out the monthly variations to provide a more reliable view), was unchanged at 6.1 per cent. We continue to see monthly gyrations in the underlying data which makes it hard to draw any definitive conclusions. However, the headline jump will, I am sure, garner significant comment.
However, the seasonally adjusted labour force participation rate increased 0.3 percentage points to 65.1 per cent in July 2015. The number of jobs rose, mostly part-time positions, but also more people are seeking work. The ABS reported the number of people employed increased by 38,500 to 11,810,700 in July 2015 (seasonally adjusted). The increase in employment was driven by increases in both full-time and part-time employment, with the largest increase seen in part-time employment for males (up 20,400).
The ABS seasonally adjusted monthly hours worked in all jobs series decreased in July 2015, down 3.4 million hours (0.2 per cent) to 1,633.2 million hours.
The seasonally adjusted number of people unemployed increased by 40,100 to 800,700 in July 2015. This was driven by females who looked for both full-time work (up 18,200) and part-time work (up 14,600).
