• Employment edged up by 1.1k in May. Full-time jobs eased by 5.3k after a revised 29.8k increase in April. In May, parttime jobs expanded by 6.4k after April’s revised 15.3k increase.
• May unemployment rate eased to 5.5% (from April’s revised 5.6%). The participation rate fell by 0.1ppt to 65.2%.
• Annual jobs growth is running at 124.5k (1.1%), averaging 10.4k a month. But since the start of 2013, jobs growth has stepped up a notch or two and is averaging 19.9k a month.
Read the full report: Market Research
Commonwealth Bank