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Australian May unemployment rate 4.0% (vs. 4.0% expected)

The jobless rate held steady at 4%, but jobs added surged well ahead of expectations at up nearly 40K (30K expected). And, all full time.

This is a good report, although questions over the veracity of these figures has been around for a long while now (seasonal adjustment questions) and they won’t go away with this swing today.

But, enouigh, of the moping about … the participation rate is up as well, which adds further shine to these numbers.


underemployment rate remained at 6.7%underutilisation rate 10.7%
monthly hours worked decreased to 1,951 million


All of those figures above are the ‘seasonally adjusted’ numbers. Some folks prefer the ‘trend’ numbers that the Australian Bureau of Statistics publish as well:

unemployment rate increased to 4.0%. participation rate remained at 66.7%.employment increased to 14,355,100. employment to population ratio remained at 64.1%.underemployment rate remained at 6.7%.monthly hours worked increased to 1,958 million.

This article was written by Eamonn Sheridan at www.forexlive.com.

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