23,500 extra jobs were created in July which is a pretty good result and around expectations. This is the important number rather than the headline rate as it gives a better reflection of the state of the economy. The rate jumped to 5.3% but this is because more people were optimistic enough to enter the workforce increasing the participation rate from 65.3% to 65.5%.
The breakup of jobs was 27,700 more part-time and 4,200 less full-time.
The results will have been welcomed by the RBA as they don't want the labour market overheating too much or too quickly.
