July job losses; labour market may be at “turning point”

17 August 2023

 

Summary: Employment down 14,600 in July, contrasts with expected rise; ANZ: labour market may be at turning point; Citi: still consistent with economy operating in excess of full-employment; participation rate slips to 66.7%; jobless rate rises to 3.7%; more part-time, fewer full-time jobs; aggregate work hours up 0.2%; underemployment rate steady at 6.4%. Australia’s period of falling unemployment came to an end in early 2019 when the jobless rate hit...

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