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Australian labour market – a relatively stronger result for August 2017

The latest labour force data released today by the Australian Bureau of Statistics – Labour Force data – for August 2017 shows that total employment growth was relatively robust (up 54,200) with full-time employment growth accounting for much of that increase. Unlike recent months, where if full-time growth was positive, part-time growth was negative (and vice versa), both components of employment rose. Further, the participation rate rose by 0.2 points as job opportunities expanded. Labour underutilisation overall (underemployment and unemployment) was at 14.1 per cent summing to 1,842.8 thousand persons. The teenage labour market showed further improvement but remains in a poor state. Overall, my assessment of the Australian labour market is that it still to early to conclude that the uncertainty of the last few years is giving way to sustained growth.

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