Australian (ASX) Stock Market Forum

Australian Employment Stats

pixel

DIY Trader
Joined
Feb 3, 2010
Posts
5,359
Reactions
329
Every month, the ABS publishes Employment data with various trend, change, and other related information. I could not find an ASF topic dedicated to discuss those figures in a broader economic context.
If anyone is interested, please join in.

Today's data for the month of March can be found at -
http://www.abs.gov.au/ausstats/abs@.nsf/mf/6202.0

What I find interesting:
  • Employment increased 7,700 to 11,910,000.
  • Unemployment decreased 2,800 to 729,600.
  • Unemployment rate remained steady at 5.8%.
  • Participation rate remained steady at 65.0%.
  • Monthly hours worked in all jobs decreased 1.8 million hours to 1,643.7 million hours.
Specifically: Number of jobs went up a little, but hours worked declined. That means the quality of work and employees' take-home pay must have deteriorated. Good for business in the short-term, but what does it do for the average family's ability to pay bills and keep up spending?
 
Joined
Dec 3, 2014
Posts
117
Reactions
3
Hi Pixel thanks for starting up this thread.

I traded the news in this instance; expecting a bullish response for the AUDUSD. Initially it was a bullish response but quickly traded to where it was before the announcement. I broke even in this case, a 0.39 profit lol. Your explanation tells me why: on the top level it seems like a good result but once you get into the nitty gritty it's just ok. I do however think that no interest rate cuts are on the table within the foreseeable future.

I am starting to see a trend here and around the world that jobs are becoming less and less full time with more and more jobs becoming part time and contract based. As evidenced by the reduction in monthly hours worked.

Can someone confirm the current statistic on being "employed"? If you work XX hours within the month you are considered "employed" in regards to the top level statistic; but the reality is quite different. I think they changed this definition within the last 6 months.
 
Joined
Jun 8, 2008
Posts
6,014
Reactions
5,607
from memory you are employed if you worked one hour or more a week...if someone can confirm; these results are not great at all....
 
Joined
Dec 10, 2012
Posts
3,632
Reactions
3
What I find interesting:
Specifically: Number of jobs went up a little, but hours worked declined. That means the quality of work and employees' take-home pay must have deteriorated. Good for business in the short-term, but what does it do for the average family's ability to pay bills and keep up spending?
Compared to to 12 months ago the hours worked was down 2.5 hours per worker. Think nearly 12 million workers by $45 and the loss of income really starts to add up.

Considering we're now in our 6th year of real national disposable income falling, the ability of households to continue to support some of the highest property prices in the world is getting rather stressful.
 

pixel

DIY Trader
Joined
Feb 3, 2010
Posts
5,359
Reactions
329
from memory you are employed if you worked one hour or more a week...if someone can confirm; these results are not great at all....
I think it was an Monday's Q&A that a member of the panel quoted one hour a month means you're no longer unemployed.
That may be okay if you're a Company Director and rake in ten Grand an hour. But that's not the norm.
 
Joined
Feb 25, 2011
Posts
5,474
Reactions
912
I think it was an Monday's Q&A that a member of the panel quoted one hour a month means you're no longer unemployed.
That may be okay if you're a Company Director and rake in ten Grand an hour. But that's not the norm.
It may also be worth noting that unpaid work (i.e. voluntary) is also counted as employment.
 
Joined
Apr 21, 2014
Posts
7,956
Reactions
1,061
It may also be worth noting that unpaid work (i.e. voluntary) is also counted as employment.
Not sure about how we define it here, but the US define those who give up on finding work as not unemployed. They're not employed, lost hope of finding work... but they are not unemployed?

I guess that's part of the reason the GFC is call the Great Recession instead of the Great Depression (Part 2). When so many are depressed and gave up, well they aren't part of the stats anymore.
 
Joined
Jul 3, 2009
Posts
15,710
Reactions
6,727
Compared to to 12 months ago the hours worked was down 2.5 hours per worker. Think nearly 12 million workers by $45 and the loss of income really starts to add up.

Considering we're now in our 6th year of real national disposable income falling, the ability of households to continue to support some of the highest property prices in the world is getting rather stressful.
Great to see you back syd, the property price bubble in Perth is well and truly burst, it is going down like a bag of strong smelling stuff.
The guy next door is in a flat spin, he has sub divided and is building on the back, now he is $hitting himself he is going to lose money.
He is trying to cut costs, but the subbies are doing crap jobs, it is going to end up in tears, sad really.
Everyone gets caught up in the euphoria of a never ending bubble.
 
Joined
Apr 21, 2014
Posts
7,956
Reactions
1,061
Great to see you back syd, the property price bubble in Perth is well and truly burst, it is going down like a bag of strong smelling stuff.
The guy next door is in a flat spin, he has sub divided and is building on the back, now he is $hitting himself he is going to lose money.
He is trying to cut costs, but the subbies are doing crap jobs, it is going to end up in tears, sad really.
Everyone gets caught up in the euphoria of a never ending bubble.
Buying opportunity for you soon, maybe? If you can't lend a helping hand to neighbour in need, what good are we right? :D
 

Joules MM1

....everything has an art
Joined
Jun 10, 2007
Posts
3,319
Reactions
731
CiyGW3pUYAA0Jkq.jpg
Peter Power ︎⚑ EIU ‏@PeterXPower

#Aus labour force #TREND #ABS #ausbiz #auspol

CiyGVsgUoAA3LME.jpg

Callam Pickering ‏@CallamPickering

The trend unemployment rate dips to 5.8 per cent on lower participation #ausbiz #auspol
 

Similar threads

Top