Australia adds whopping 500,900 jobs in June, jobless rate steadies at 5.4%

Australia  unemployment rate steadied at 5.4 percent in June, even as the economy added a whopping 500,900 jobs, the latest data published by Australia Bureau of Statistics (ABS) showed this Thursday. The markets were expecting a job addition of 17,000.  Employment for the previous month was 12,000  addition.

Meanwhile, full-time jobs came in at  +41,200 compared to -20,600 seen in May. The part-time employment rose 9,700 versus 32,600 last. The participation rate rose to 65.7% in the reported month versus 65.5% previous.

June Key Points (Source: ABS)

Employment increased 26,900 to 12,562,800.

Unemployment decreased 1,200 to 719,000.

Unemployment rate remained steady at 5.4%.

Participation rate remained steady at 65.6%.

Monthly hours worked in all jobs increased 3.4 million hours (0.2%) to 1,752.0 million hours.

Seasonally adjusted estimates (Monthly change)

Employment increased 50,900 to 12,573,600. Full-time employment increased 41,200 to 8,565,200 and part-time employment increased 9,700 to 4,008,400.

Unemployment decreased 1,100 to 714,100. The number of unemployed persons looking for full-time work increased 5,100 to 501,900 and the number of unemployed persons only looking for part-time work decreased 6,100 to 212,200.

Unemployment rate remained steady at 5.4%.

Participation rate increased by 0.2 pts to 65.7%.

Monthly hours worked in all jobs increased 10.7 million hours (0.6%) to 1,750.7 million hours.