Employment

Employment
Jobless rate hits near four year high in Australia
Australia’s unemployment rate rose to 4.5% in September from a revised 4.3% in August, according to data from the Australian Bureau of Statistics (ABS). “This is the highest seasonally adjusted unemployment rate recorded since November 2021,” ABS Head of Labour Statistics Sean Crick said in a media release. He said the number of unemployed people increased by 34,000 to 684,000 while the number of employed people grew by 15,000 to 14.64 million in the same period. The participation rate, which measures working-age people employed or actively looking for work, rose by 0.1 percentage points to 67.0% as a result of these increases but remained below the record high of 67.2% at the beginning of the year. The employment-to-population ratio remained steady at 64.0%. The number of unemployed men rose by 24,000 to 370,000, while the number of unemployed women rose by 10,000 to 314,000. Full-time employment rose by 9,000 as the number of full-time employed men increased by 23,000, while women in this category fell by 15,000. Part-time employment rose by 6,000 as women in this position rose 19,000, while men fell 13,000. The underemployment rate rose by 0.2 percentage points to 5.9% in September, 0.3 percentage points
Employment
US private sector sheds 32,000 jobs in September
United States private sector employment shed 32,000 jobs in September, though pay rose by 4.5% from the previous year. Jobs were lost across most sectors, according to ADP’s National Employment Report. September’s losses were the largest decrease since March 2023. “Despite the strong economic growth we saw in the second quarter, this month's release further validates what we've been seeing in the labour market, that U.S. employers have been cautious with hiring,” said ADP chief economist Nela Richardson. Economists surveyed by Dow Jones had projected 45,000 jobs would be added in September. The goods-producing industry shed 3,000 jobs last month, while the service-providing industry lost 28,000. Leisure/hospitality recorded the largest decline, dropping 19,000 jobs. The only sectors to report an increase in jobs were education/health services, which posted 33,000 new jobs, and natural resources/mining, which added 4,000. Job losses were concentrated with small- and medium-sized businesses, which lost 40,000 and 20,000 jobs respectively. Businesses with more than 500 employees added 33,000 jobs. The Midwest was also the only major region to report a decrease in jobs. Around 63,000 jobs were lost across the Midw
Employment
Part timers hold Australian jobless rate steady
Australia's seasonally adjusted unemployment rate remained at 4.2% in August as part-time workers replaced full-timers in the workforce, according to data from the Australian Bureau of Statistics (ABS). ABS Head of Labour Statistics Sean Crick said employment fell by 5,000 people and unemployment dropped by 1,000 as the participation rate, which measures working-age Australians employed or looking for work, eased by 0.1 percentage points to 66.8%. He said full-time employment dropped by 40,900 people to 10,077,300 while part-time employment rose by 35,500 to 4,549,200 as employment dropped to 14,626,500, all seasonally adjusted. The number of women working dropped by about 30,000, while 11,000 men joined the unemployment queue of 647,400 people. The seasonally adjusted unemployment figure in August was the same as in July and up from 4.1% in August 2024. Part-time employment rose by 18,000 for women and 17,000 for men. “Hours worked fell 0.4 per cent in August, supported by less people working full-time hours this month,” Crick said in a media release. The employment to population ratio decreased to 64.0% in August from 64.2% in July, and the underemployment rate decreased to 5.7% from 5.9%. Labour force da
Employment
US adds 911K fewer jobs than thought in year to March
The United States added 911,000 fewer jobs than previously estimated in the year to March, showing weakness in the labour market extending through 2024. The Bureau of Labor Statistics (BLS) revised its number of non-farm jobs created annually downward by 911,000, or 0.6%, for the month. These were the largest yearly revisions since 2002. “The annual benchmark revisions over the last 10 years have an absolute average of 0.2% of total nonfarm employment,” according to the BLS. The trade, transportation, and utilities sector saw the largest downward revisions, at a total of 226,000 or 0.8%. Retail trade and wholesale trade job additions were revised down by 126,200 and 110,300, respectively. The transportation & warehousing and utilities industries were the only two areas to post a net increase in created jobs from initial estimates, and were revised upward by 6,600 and 3,700. The leisure and hospitality sector also reported a major revision, adding 176,000 fewer jobs than first estimated. The information sector’s revisions represented the largest percentage decrease, falling by 67,000 jobs or 2.3%. Jobs added in the U.S. were revised down by a total of 21,000 across June and July in August’s BLS report, released th
Employment
American's confidence in finding a new job declines
American job seekers' confidence in finding a new job has fallen, according to a new survey. The new Federal Reserve Bank of New York's Survey of Consumer Expectations found that the average “perceived probability” of finding a new job after losing one fell 5.8% points to 44.9%, which is the lowest measure on record since 2013 when the New York Fed began collecting data. People of all ages, education, and income groups reported this sentiment, but it was most prevalent with those with at most a high school education. Americans are also concerned about unemployment and the prospect of losing their jobs. Expectations of the United States employment rate increasing rose by 1.7% to 39.1%. Perceived probability of losing one’s job also lifted by 0.1% to 14.5%, which is above the series’ 12-month trailing average of 14%. This is a reversal of the Great Resignation that occurred in 2021-2022, where around 4.5 million workers a month were quitting their jobs. In July, this number stood at 3.2 million, which is well off pace from a few years ago and a more than 5% decrease from the same period in 2024, according to the Bureau of Labor Statistics figures. “Consumers are feeling down about job-finding opportunities, and

Employment
US job creation falters in August as job market softens
United States job creation continued to struggle in August, signalling weakness in the labour market and potentially raising the chance of an interest rate cut. Just 22,000 non-farm jobs were added last month, dropping from 79,000 in July. The unemployment rate increased from 4.2% to 4.3%, the highest since 2021. “Over the month, a job gain in health care was partially offset by losses in federal government and in mining, quarrying, and oil and gas extraction,” according to the U.S. Bureau of Labor Statistics (BLS). The healthcare sector reported a gain of 31,000 jobs, though this was below its 12-month average of 42,000. Mining, quarrying, and oil and gas extraction jobs dropped by 6,000. Federal government employment also fell by 15,000 in August, having plummeted by 97,000 from January. Trade employment and manufacturing employment were each down by 12,000. The number of unemployed people was 7.4 million, the BLS said. In August, there were 786,000 unemployed people seeking a first job, down 199,000 from July. Jobs added in June and July were revised downward by a total of 21,000. Non-farm jobs declined by 13,000 in June, compared with the BLS’ previously reported increase of 14,000. Around 79,000 jobs were
Employment
US job openings sink to 10mth lows in July
United States job openings reached their lowest level in 10 months in July, indicating a softening labour market. Non-farm job openings were 7.181 million in July, dropping from the 7.357 million seen in June. The number of openings fell below the number of unemployed workers for the first time in over four years. “The number and rate of job openings were little changed at 7.2 million and 4.3 percent, respectively, in July. The number of job openings decreased in health care and social assistance (-181,000); arts, entertainment, and recreation (-62,000); and mining and logging (-13,000),” according to the U.S. Bureau of Labor Statistics’s Job Openings and Labor Turnover Summary (JOLTS). Openings in July were the lowest since the 7.103 million reported in September 2024, and missed FactSet estimates of 7.37 million. The U.S. unemployment rate was 7.236 million in July after a 221,000 monthly increase, marking the first time job openings have been below unemployment since 2021. The number of hires in July was 5.308 million, climbing slightly from June’s 5.267 million. The rate of hires was unchanged at 3.3%. Separations were at 5.289 million, down from 5.341 million in June. Both the number of quits and the number of
Employment
ABS: Unemployment at 4.2%; Female participation at record
Australia’s unemployment rate declined in July as female participation in the labour force reached new record highs, supported by a surge in full-time employment. Seasonally adjusted figures from the Australian Bureau of Statistics (ABS) show the unemployment rate edged down to 4.2% in July from 4.3% in the previous period. Sean Crick, ABS head of labour statistics, said: “With employment rising by 25,000 people and the number of unemployed decreasing by 10,000 people, the unemployment rate fell by 0.1 percentage points to 4.2 per cent in July.” The increase in employment was led by a 60,000 rise in full-time jobs, which more than offset a fall of 36,000 in part-time roles. Female full-time employment grew by 40,000, while male full-time employment rose by 20,000. The participation rate, measuring the share of working-age Australians who are employed or actively seeking work, climbed to 67.1%. Female participation hit a record 63.5%, while the female employment-to-population ratio also reached a historic high of 60.9%. Male participation held steady at 70.8%. Overall, the employment-to-population ratio edged up to 64.2%. Hours worked rose by 0.3% over the month, outpacing the 0.2% rise in employment. The
Employment
US adds 73,000 jobs in July; May-June figures slashed
United States job growth remained sluggish in July, with just 73,000 positions added during the month, while figures for May and June were revised sharply lower, prompting renewed concern over the health of the labour market and increasing expectations of a Federal Reserve rate cut. The latest data from the Bureau of Labor Statistics showed that nonfarm payrolls rose by 73,000 last month, up from a downwardly revised 14,000 in June but still well below market forecasts of 110,000. The revisions were steep: June’s total was cut from 147,000 to 14,000, and May’s from 144,000 to just 19,000, together slashing 258,000 jobs from prior estimates. The unemployment rate ticked up to 4.2%, matching forecasts. Market reaction was swift, with stock futures falling and Treasury yields dropping as investors recalibrated expectations. The disappointing numbers have bolstered expectations that the Fed will cut interest rates at its September policy meeting. According to CME Group FedWatch Tool, traders now see a 80.3% chance of a cut, up sharply from 40% a day earlier. Health care and social assistance were the main drivers of job creation, accounting for about 94% of July’s gains. Health care alone added 55,000 positions, while s