While this is indeed promising, it is mostly a reversal of last months jump in unemployment. This month the fall was entirely in male unemployment which fell from 11.6% to 7.4% which accounted for almost all the increase in number employed. The participation rate for males also jumped from 72.8% to 76%. The unemployment rate for females was actually slightly higher this month.
As previously mentioned subsets in the ABS data are frequently flagged with a warning and this month the male data was so flagged: "estimate is subject to sampling variability too high for most practical purposes". The trend is what matters and KS will update with graphs and trends over the weekend.
Cairns Post composted comment of the day:
many people don't want to work look at some suburbs, 100's mill around day in day out, no interest in working, i dont have to describe them any further we know who they are....Does anyone hear a dogwhistle?
Posted by: greg howdy of cairns 4:21pm today