Employment

Employment growth slowed to 15.9k in October, missing the market expectations of a 25.0k gain. The seasonally adjusted unemployment rate was steady at 4.1%, in line with expectations. Despite the rise, the Western Australian unemployment rate remained low at 4.0%.

Employment saw another outsized increase of 64.1k in September. This gain was double the 25.0k pencilled in by the market consensus and the largest since February. It followed a 42.6k increase in August (revised slightly down from 47.5k).

Employment saw another big rise of 47.5k in August, significantly more than the 26.0k expected by market participants. The July gain was revised down to a still solid 48.9k (originally 58.2k). The annual rate of employment growth slowed 0.2ppts to 2.7%.

Employment rose by 58.2k in July, significantly more than the 20.0k pencilled in by the market consensus. The unemployment rate picked up 0.1ppts to 4.2%, amid a 0.2ppts rise in the participation rate to a new record high of 67.1%. Western Australia continues to boast the healthiest state labour market, with the lowest unemployment rate (3.7%) and the fastest annual rise in employment (4.6%).

Employment rose by a seasonally adjusted 50.2k in June, significantly more than the 20.0k pencilled in by the consensus. The May employment gain was revised slightly down to 39.5k from the initially estimated 39.7k. The annual rate of employment growth accelerated from 2.5% to 2.8% in June, which is comparable to the 2.9% observed in April.

Employment rose by 39.7k in May, somewhat more than the 30.0k expected by market participants. This followed a downwardly revised 37.4k gain in April (originally 38.5k). The annual rate of employment growth decelerated back to 2.5%.