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Unemployment steady at 5.6pc as 54200 jobs added during August

14 Septembre 2017

Australia's unemployment rate has held steady at 5.6 per cent in August, due to the creation of more than 54,000 jobs, majority full-time.

However, the total number of people with jobs rose by 54,200, the Australian Bureau of Statistics data on Thursday showed, far higher than the 20,000 increase that economists had predicted.

The level of job creation was more than three times higher than what was expected by most economists, pushing the Australian dollar back above 80 USA cents upon its 11:30am (AEST) release.

The workforce participation rate rose to 65.3% in August from 65.1% in July.

The more stable trend unemployment rate also dropped - from 6.3 to 6.1 per cent.

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Australia's job market has been a bright spot for much of this year, with full-time job creation leading an acceleration in hiring, and lowering the jobless rate.

However, wages growth has remained weak, raising concerns about a dent in consumer spending.

"Full-time employment has now increased by around 253,000 persons since August 2016, and makes up the majority of the 307,000 person increase in employment over the period", he wrote in the report.

The performance is the best for the state since November 2012, when the jobless rate was recorded as 5.4 per cent.

Unemployment steady at 5.6pc as 54200 jobs added during August