Falls in full-time work were offset by rises in part-time employment. Picture: NewsWire \/ John Appleyard <\/p>\n
Australia\u2019s unemployment rate remained flat in August at 4.2 per cent, according to the Australian Bureau of Statistics.<\/p>\n
The ABS says 5400 Australia\u2019s left the workforce last month after a 24,500 person gain in the workforce in July.<\/p>\n
A fall in full-time jobs were offset by a rise in part-time employment.<\/p>\n
The stats show 41,000 full-time roles were removed in August, replaced by a 36,000 person rise in part-time jobs.<\/p>\n
Falls in full-time work were offset by rises in part-time employment. Picture: NewsWire \/ John Appleyard <\/p>\n
IFM Investors chief economist Alex Joiner labelled the figures as \u201cvery weak\u201d.<\/p>\n
\u201cSafe to say the expected rotation from public sector employment to private sector will be fraught with risk,\u201d he said on X.<\/p>\n
VanEck head of investments and capital markets Russel Chesler said the data added to Australia\u2019s divergence from the US.<\/p>\n
\u201cThe US Fed announced its first rate cut for 2025 overnight, with an expectation of more to come over the course of the year,\u201d he said.<\/p>\n
\u201cThis development has been driven by growing signs of weakness in the US labour market, with rate easing intended to drive more business activity due to lower borrowing costs.\u201d<\/p>\n
Meanwhile, he said, in Australia, the macroeconomic backdrop was different.<\/p>\n
\u201cThe labour market has sustained near-full employment levels for more than three years (albeit with some concerns about productivity), and during the recent (rate) tightening cycle, our unemployment rate actually went down rather than up,\u201d he said.<\/p>\n
BDO chief economist Anders Magnusson said the jobs market was mixed.<\/p>\n
\u201cOn one hand, rising consumption and low unemployment suggest the economy still has momentum,\u201d he said.<\/p>\n
\u201cOn the other, employment decreased in this release and the further job cuts already announced in the banking sector, termed by the Finance Sector Union as a \u2018tidal wave of cuts\u2019 across the sector, have not yet flowed into the ABS statistics.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"Falls in full-time work were offset by rises in part-time employment. Picture: NewsWire \/ John Appleyard Australia\u2019s unemployment…\n","protected":false},"author":2,"featured_media":72434,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[176],"tags":[1128,48859,79,18,233,19,17,227,49670,4125],"class_list":{"0":"post-72433","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-jobs","8":"tag-australia","9":"tag-australian-bureau-of-statistics","10":"tag-business","11":"tag-eire","12":"tag-employment","13":"tag-ie","14":"tag-ireland","15":"tag-jobs","16":"tag-part-time-employment","17":"tag-unemployment-rate"},"share_on_mastodon":{"url":"","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/72433","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/comments?post=72433"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/72433\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media\/72434"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media?parent=72433"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/categories?post=72433"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/tags?post=72433"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}