Australian Employment Rises in August for Sixth Straight Month as Full-Time Jobs Surge

Australia’s employment picture improved in August for the sixth month running, as employers continued to add payrolls at a brisk pace.

In seasonally adjusted terms, overall employment increased by 54,200 last month, following a revised gain of 29,200 in July, the Australian Bureau of Statistics said in a report on Thursday. That was more than triple the rate forecast by economists.

The number of full-time jobs rose by 40,100, following a revised drop of 19,800 the month before. Part-time jobs by rose by 14,100. Jobs in this category rose at a revised rate of

The jobless rate held steady at 5.6% last month, as expected by the consensus. Workforce participation, which monitors people that are employed or actively searching for work, increased 0.2% to 65.3%.

Monthly hours worked for all occupations increased by 3.9 million hours, or 0.2%, official data showed.

The Australian dollar spiked following the news, with the AUD/USD swinging from a negative position to a positive one. The pair climbed 0.4% to 0.8012.

Sam Bourgi is a financial market analyst for economiccalendar.com. He has more than six years of progressive experience in economic and financial analysis, research consulting and sectoral analysis. As a published author in government, peer-reviewed, online and industry sources, he has developed a fundamental approach to the financial markets with a broad focus on stock indices, commodities and the technology sector. He earned his Bachelor’s Degree from the University of Windsor and Master’s degree from McMaster University.