Australia’s impressive run of jobs growth has continued into August. In seasonally adjusted terms, employment increased by 44,000 over the month, well ahead of market expectations.
The bulk of the growth was in full-time positions with 33,700 jobs created, while part-time work increased by 10,200. The unemployment rate remained at 5.3 per cent as the number of people looking for work edged up. However the figures show the slackness in the labour market that has kept wages growth low tightened a bit. The underemployment rate — or workers who are looking for more hours — decreased to 8.1 per cent, while underutilisation — the sum of unemployment and underemployment also fell.
