Australia Part-time employment dipped from previous 0 to -27000 in May

While the headline of the Australian jobs report came below expectations with an employment change s.a. (May) of -4800 vs +10,000 exp, the numbers were actually quite encouraging, as fulltime employment saw +22,200 jobs being created, while part-time employment came at -27000. The unemployment rate s.a. was unchanged at 5.8% vs 5.9%, with the participation rate slightly lower at 64.6% vs 64.7% exp.