Australia July Jobs Report – Unemployment rate, jobs both record surprise jumps

Employment surged in the month of July even as the unemployment rate climbed from 6 to 6.3 per cent.

The latest official figures from the Bureau of Statistics show a jump of employment of 38,500 in July after a jump of 7000 in June and 42,000 in May. The combined jump of 87,500 came as the unemployment rate climbed from 6 to 6.3 per cent.

The discrepancy is explained by a jump in the number of unemployed Australians from 771,000 to 801,000.

The results come at a time of unusual volatility in the figures following changes in the way the Bureau of Statistics collects the data.

Chosen excerpts by Job Market Monitor. Read the whole story at  Unemployment rate, jobs both record surprise jumps.