Australian jobs: July beats estimates yet again

FXStreet (Bali) - Australia published solid employment figures for the month of July, with the ABS reporting an increase in employment jobs change by 38.5k (seasonally adjusted). Full-time jobs came in at 12.4k vs 24.5k last, while part-time saw a jump of 26.1k. Australian unemployment rate ticked up to 6.3% vs 6.1% expected and 6% last, although that was due to an increase in the participation rate to 65.1% vs 64.8% exp and 64.8% last.

July key figures

TREND ESTIMATES (MONTHLY CHANGE): Employment increased to 11,797,300. Unemployment increased to 772,300. Unemployment rate remained steady at 6.1%. Participation rate remained steady at 64.9%. Monthly hours worked in all jobs decreased 0.4 million hours to 1,634.0 million hours.

SEASONALLY ADJUSTED ESTIMATES (MONTHLY CHANGE): Employment increased 38,500 to 11,810,700. Full-time employment increased 12,400 to 8,170,400 and part-time employment increased 26,100 to 3,640,300. Unemployment increased 40,100 to 800,700. The number of unemployed persons looking for full-time work increased 23,600 to 568,100 and the number of unemployed persons only looking for part-time work increased 16,500 to 232,600. Unemployment rate increased 0.3 pts to 6.3% from a revised June 2015 estimate. Participation rate increased 0.3 pts to 65.1%. Monthly hours worked in all jobs decreased 3.4 million hours (0.2%) to 1,633.2 million hours.