Thursday, July 12

Disappointing June jobs data

Other than a slight increase in part-time employment the June labour force survey was not good news: fewer full-time jobs; more people unemployed; and more people left the labour market.

The headline unemployment rate was 5.2 per cent. It looks like the trend is flat-lining or even turning upwards.

The annual growth in the hours worked metric collapsed in June. Now this "collapse" may be nothing more than noise in a volatile series. But, with now two months of negative month on month growth, it may also be the pointer to something more serious.

Around the states ... Tasmania is still in its own world of pain. Notwithstanding some big movements over recent months, at least Tasmania looks like it has stabilised in trend terms. The other world of pain is South Australia. The jump in the June data suggests South Australia is making a bid to join Tasmania at the top of the league table.

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