Australian Feb Employment Report: Total Jobs Disappoint, Full Time Bright Spot

Australian Feb Employment Report: Total Jobs Disappoint, Full Time Bright Spot

Australia published flat employment figures for the month of February, with the ABS reporting a minimal 0.3k increase in total employment (seasonally adjusted) vs -10k expected by Reuters.

Full-time jobs came in at 15.9k vs -40.3k last (revised), while part-time saw a decline of -15.6k. Australian unemployment rate was unchanged at 5.8% vs 6% expected, with the participation rate at 64.9% vs 65.1% last (revised).

February Key Points

TREND ESTIMATES (MONTHLY CHANGE)

Employment increased 11,400 to 11,903,100.

Unemployment decreased 700 to 736,600.

Unemployment rate remained steady at 5.8%.

Participation rate remained steady at 65.1% from a revised January 2016 estimate.

Monthly hours worked in all jobs increased 2.5 million hours to 1,653.6 million hours.

SEASONALLY ADJUSTED ESTIMATES (MONTHLY CHANGE)

Employment increased 300 to 11,884,000. Full-time employment increased 15,900 to 8,192,600 and part-time employment decreased 15,600 to 3,691,500.

Unemployment decreased 27,300 to 732,600. The number of unemployed persons looking for full-time work decreased 18,200 to 525,200 and the number of unemployed persons only looking for part-time work decreased 9,100 to 207,400.

Unemployment rate decreased 0.2 pts to 5.8%.

Participation rate decreased 0.2 pts to 64.9%.

Monthly hours worked in all jobs decreased 2.0 million hours to 1,652.6 million hours.

LABOUR UNDERUTILISATION (QUARTERLY CHANGE)

Trend estimates: The labour force underutilisation rate decreased 0.1 pts to 14.2%.

Seasonally adjusted estimates: The labour force underutilisation rate decreased 0.1 pts to 14.2%. The male labour force underutilisation rate decreased 0.1 pts to 12.3%. The female labour force underutilisation rate decreased 0.3 pts to 16.4%, based on unrounded estimates.


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