Thursday 14th July 2016 - 1:29 pm

Trend unemployment “steady” at 5.7 per cent:ABS

by Alan Thornhill

Australia’s seasonally adjusted unemployment rate rose by 0.1 per centage points in June  to 5.8 per cent.

 

However the Bureau of Statistics reported today that its “more reliable” indicator of unemployment, the trend series, had stayed steady at 5.7 per cent.

 

Th bureau said our participation rate also remained steady at 64.8 per cent.

 

As always, the detail of the Bureau’s employment figures were important last month.

 

And it said employment grew by 0.07 per cent in June, consistent with the average growth rate over the last six months, on trend figures.

 

The bureau added that, over the past month,, trend employment increased by 8,300 people to 11,933,400.

 

Trend full-time employment increased by 700  after falling for the previous four months.

 

Part-time employment increased by 7,600 persons, its weakest monthly growth since August 2014.

 

The Bureau also said that the hours worked by employed people fell, but not by as much as in previous months.

 

“This reflects the small increase in trend employment,”  bureau said.

The trend unemployment rate remained steady at 5.7 per cent. The participation rate also remained steady at 64.8 per cent.
 

“Trend series smooth the more volatile seasonally adjusted estimates and provide the best measure of the underlying behaviour of the labour market,” Mr Hockman said.

The seasonally adjusted number of persons employed increased by 7,900 in June 2016.

 

The seasonally adjusted unemployment rate for June 2016 increased 0.1 percentage points to 5.8 per cent and the seasonally adjusted labour force participation rate increased by less than 0.1 percentage points to 64.9 per cent.


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