ABS Labour Force today was OK at the headline level but sucked underneath.
In seasonally adjusted terms, in February 2025:
- unemployment rate remained at 4.1%.
- participation rate decreased to 66.8%.
- employment decreased to 14,513,200.
- employment to population ratio decreased to 64.1%.
- underemployment rate decreased to 5.9%.
- monthly hours worked decreased to 1,973 million.
- full-time employment decreased by 35,700 to 10,007,300 people.
- part-time employment decreased by 17,000 to 4,505,900 people.
Unemployment was only stable as job seekers dropped out.
The immigration-led labour market expansion model is headed into a hiccup. It must ultimately track shocking GDP.
Egg all over the mind-altered RBA, again.
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