ABS Labour Force Figures, released today, unemployment rate decreased to 3.4%

Welcome to the August edition of the MyHorizon News Bulletin.

‍Our overview of the labour market provides the latest unemployment data from across the globe. We also include the Roy Morgan Consumer Confidence report, the ANZ Job Advertisement Series, ABS Job Vacancy data and the DEEWR report.

‍Australia: ABS Labour Force Figures, released today, unemployment rate decreased 0.1 points to 3.4%. The participation rate decreased to 66.4%.  Monthly hours worked decreased 0.8% to to 1,840 million hours. ↓

‍ABS unemployment data‍

‍USA: Bureau of Labor Statistics, released August 5, the unemployment rate decreased 0.1 points to 3.5%. ↓

‍USA unemployment data‍

‍UK: Bureau of Labor Statistics, released August 16, the unemployment rate remainded steady at 3.8%. ↔

‍UK unemployment data‍

‍New Zealand: Statistics New Zealand, released August 2, the unemployment rate increased 0.1 points in the second quarter to 3.3%. ↑

‍NZ unemployment data‍

‍Germany: Destatis Germany, released July 29, unemployment rate increased 0.1 points to 5.4%. ↑

‍Germany unemployment data

France: Insee France, released August 12, the unemployment rate increased 0.1 points in the second quarter to 7.4%. ↑
France unemployment data

Spain: Instituto Nacional de Estadistica, released July 28, unemployment rate decreased 1.17 points in the second quarter to 12.48%. ↓
Spain unemployment data

Roy Morgan Consumer Confidence ANZ, Indonesia and China: The latest Roy Morgan consumer confidence in four Asian countries.

‍Roy Morgan Consumer Confidence Report‍

‍Job Advertisements Series, released August 1, Job Ads decreased by 1.1 per cent m/m in July, following a slight downward revision of the June number. We may have passed the peak in job ads, but the large volume of unfilled demands means the labour market will likely continue to tighten. We now expect the unemployment rate to fall below 3 per cent by early-2023.

‍Job Advertisements Series‍

‍Job Vacancy Rates: ABS Labour Force Figures, released June 30, total job vacancies for the May 2022 quarter were 480,100, an increase of 13.8% from February 2022. ↑

‍ABS Job Vacancy data‍

‍DEEWR Report: Department of Employment Monthly Leading Indicator of Employment, released August 17.

‍Department of Employment Monthly Leading Indicator of Employment