Employment

December was another solid month for the Aussie labour market with seasonally adjusted employment rising 56.3k (mkt exp. 15.0k). This was partly offset by a small downward revision of the November increase to 28.2k. Western Australia’s labour market is the strongest of all the states by several measures, including having the fastest annual employment growth and lowest unemployment rate of 3.3%.

Seasonally adjusted employment rose 35.6k in November, somewhat more than the 25.0k expected by market participants. The seasonally adjusted unemployment rate unexpectedly declined 0.2ppts to 3.9%, while the market consensus had pencilled in a 0.1ppts uptick to 4.2%.

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%).