Money Unemployment steady at 5.6% as 54,200 jobs added during August

10:31  14 september  2017
10:31  14 september  2017 Source:   abc.net.au

AUSTRALIAN DIARY: Everything you need to know about the week ahead for markets

  AUSTRALIAN DIARY: Everything you need to know about the week ahead for markets Key data in Australia this week will be led by monthly employment figures on Thursday. After Asian trade finished on Friday, it was a relatively quiet session with global stocks little-changed to end the week.

A full-time jobs boom over the past year is keeping unemployment in check, but is so far failing to cut underemployment and boost wages.

Australia's jobs blew past expectations to surge the most in two years in August , yet unemployment was static as more people looked for work Employment leapt 54 , 200 , the biggest jump since October 2015. Victoria, Queensland and NSW led job gains, adding 18,600, 16,700 and 12,900 respectively.

Despite the increase in full-time work and the participation rate, the ABS only recorded a 0.4 per cent increase in total hours worked last month. © AAP Image/Alan Porritt Despite the increase in full-time work and the participation rate, the ABS only recorded a 0.4 per cent increase in total hours worked last month. Australia's unemployment rate has held steady at 5.6 per cent in August, due to the creation of more than 54,000 jobs, most of them full-time.

The Bureau of Statistics estimated that 40,100 full-time positions were added to the economy last month, with a further 14,100 part-time jobs also created.

The level of job creation was more than three times higher than what was expected by most economists, pushing the Australian dollar back above 80 US cents upon its 11:30am (AEST) release.

The reason the strong job creation did not lower the jobless rate from 5.6 per cent is that the ABS survey also recorded an increase in the proportion of people aged over 15 in work or looking for it — the participation rate — to 65.3 per cent.

Despite the increase in full-time work and the participation rate, the ABS only recorded a 0.4 per cent increase in total hours worked last month.

August’s redesigned smart lock boasts better battery life and security .
In a major refresh of its smart home products, August has released two new versions of its smart lock, including a cheaper redesigned model and a professional edition of its doorbell camera. The third generation of the August Smart Lock has been completely overhauled with a new elongated industrial design featuring an actual thumb turn compared to the original round look. It also boasts double the battery life of the second generation Smart Lock. August has added a new feature called DoorSense, a sensor that can be installed next to your lock that tells you if your door is open or closed.

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