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Economics update | September 16, 2022
16 Sep 2022
Full-time employment grows with participation
ABS Labour Force data released this week shows a 33,500-person increase in employment in August. This was facilitated by an increase of 58,800 in full-time employment, offsetting a decrease of 25,300 in part-time employment. Participation rose by 0.2 percentage points to 66.6 per cent, with increases for both men and women, a positive sign that more people are joining the workforce. Consequently, the unemployment rate increased by 0.1 percentage points to 3.5 per cent.
With the number of multiple job holders increasing by 4.3 per cent, and the underemployment rate at a significantly low level of 5.9 per cent, employees are using the tight labour market to great effect, taking on additional work to boost their income.
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