Market Insights Jan 2020 Australian employment market data, as well as Industry insights.
Key trends and indicators for the month of January:
• Unemployment is down 0.1 to 5.1%
• Employment increased by 17,500 to 12,976,300 people
• Full-time employment increased by 8,900 to 8,851,000 people and part-time employment increased by 8,600 to 4,125,300 people.
• Unemployment decreased by 4,400 to 703,600 people.
• Monthly hours worked in all jobs increased by 2.9 million hours to 1,788.2 million hours.
The unexpected fall in unemployment over November and December is likely to ease pressure on the Reserve Bank to cut rates at its next
meeting, however the current rate I still much higher than the 4.5 per cent level the RBA argues will lead to stronger wage growth. IFM
Economist Alex Joiner described it as a very solid outcome. See full article: