KEY STATISTICS
• Unemployment rate increased to 4.3% in trend terms¹
• Employment increased by 18,100 people (0.1%) to 14,643,000¹
• Participation rate remained at 66.9%¹
• Full-time employment increased by 12,100 to 10,101,800 people¹
• Part-time employment increased by 6,000 to 4,541,200 people¹
MARKET ANALYSIS
• Economy shed jobs but fewer people looking for work²
• Data supports cautious Reserve Bank of Australia stance²
• Employment growth remains modest despite population increases
POLICY IMPLICATIONS
□ Unemployment rate may not rise much further as full employment threshold has fallen³
□ Wages growth expected to slow, benefiting inflation control³
□ Data supports potential RBA rate cutting cycle³
OUTLOOK
• Monthly employment fluctuations continue within broader stable trend
• Labour market demonstrates resilience despite economic headwinds
• 818,900 part-time workers preferred more hours¹
¹ Australian Bureau of Statistics – Labour Force Data ² Bloomberg – Australian Unemployment Analysis ³ AMP Economic Insights
