Australia - Unemployment rate remains steady in August

Fifty level crossings are being removed across Melbourne

The Australian Bureau of Statistics reported on Thursday that the number of employed people rose by in August, blowing past expectations for a 15,000 gain.

Australia's employment picture improved in August for the sixth month running, as employers continued to add payrolls at a brisk pace.

The level of job creation was more than three times higher than what was expected by most economists, pushing the Australian dollar back above 80 USA cents upon its 11:30am (AEST) release. Since August 2016, full-time employment has increased by 251,200 persons, while part-time employment has increased by 74,500 persons.

Meanwhile, over the past year, trend employment increased by 307,300 persons (or 2.6%).

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"ABS Labour force figures for August show employment has increased for the eleventh consecutive month, demonstrating the underlying strength in the labour market and highlighting the success of the (federal) government's comprehensive economic plan", Cash said. This is the highest it has been since February 2013.

The participation rate ticked up to 65.3 percent - exceeding expectations for 65.1 percent, which would have been unchanged.

In a separate media release, also published on Thursday, Michaelia Cash said that employment remains at record high levels.

Nationally, the unemployment rate was steady at 5.6 per cent. That was more than triple the rate forecast by economists.


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