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Australian economy added jobs, but unemployment rate rose

Thursday, Jan 18 2018
Australian economy added jobs, but unemployment rate rose

The Aussie economy added 34,700 jobs in December, massively ahead of the 15,000 forecast. Coming after a blockbuster set of November data this further surge might have been expected to boost the currency. But the devil appears to have been in the detail. Full-time jobs rose by ‘only’ 15,000, with part-time positions up by 19,500 (both were less than last month’s gains).

These figures always have more positive impact when full-time hiring is robust, so the disparity may explain some of the Australian Dollar’s reaction. The unemployment rate also edged up, to 5.5% from 5.4%. This was unexpected. Confusingly the overall participation rate did better, too, though. It edged up modestly to 65.7%.

More in this category: « US Industrial Production increased more than expected China's GDP grew by 6.8% in Q4 »

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