Aussie jobs re-capped: part time jobs increasing - Scotiabank

Analysts at Scotiabank explained that Australia gained 26,200 jobs in July which beat consensus expectations by about two-and-a-half times, but the details were softer.

Key Quotes:

"That’s because full-time employment fell by 45,400 and this was offset by 71,600 more part-time jobs. That’s the biggest drop in full-time employment in almost three years and the largest part-time job gain in over seven years. Or, it could all just be nonsense and for two reasons."

"One is that Australia held an election on Saturday July 2nd and the country was preparing for this month’s Census. It’s unclear to what extent they influenced hiring in relation to the survey reference periods but the risk is that part-time jobs come crashing right back down next month so the bigger focus should be on the latest reading’s weakness in the full-time category. Then there is just plain old noise that is heavily present in global job market readings for any one particular month."