Employment

A good showing in full-time employment again with a 36,400 increase but part-time jobs fell by 9,400. Total increase was 26,900 in May, ahead of forecasts centred on job gains of around 20,000.

The unemployment rate fell from 5.4 per cent to 5.2 per cent and the participation rate fell from 65.2 per cent to 65.1 per cent. To two decimal points, the jobless rate now stands at a 16-month low of 5.15 per cent.

Average hours worked lifted by 2.9 per cent to record highs in May