Australia employment dropped -146.3k in August, even worse than expectation of -70.0k. Full-time jobs dropped -68k while part-time jobs dropped -78.2k.
Unemployment rate, on the other hand, dropped -0.1% to 4.6%, versus expectation 4.9%. But that’s due to a sharp fall in participation rate by -0.8% to 65.2%. Monthly hours worked dropped -66m hours or -3.7% mom.
Bjorn Jarvis, head of labour statistics at the ABS, said: “The fall in the unemployment rate reflects a large fall in participation during the recent lockdowns, rather than a strengthening in labour market conditions.
“Throughout the pandemic we have seen large falls in participation during lockdowns — a pattern repeated over the past few months. Beyond people losing their jobs, we have seen unemployed people drop out of the labour force, given how difficult it is to actively look for work and be available for work during lockdowns.
