CORRECTED-MNI BRIEF: Aussie Employment Lower Over August

(Original story reported an additional 5,400 jobs created over August) 

Australia lost 5,400 jobs in August, well short of the 21,000 expected to be created, while the unemployment rate held steady at 4.2%, Australian Bureau of Statistics data showed Thursday.

The employment-to-population ratio slipped 0.1 point to 64.0%. Full-time employment fell by 41,000, partly offset by a 36,000 rise in part-time jobs. Female full-time employment declined by 30,000 and male full-time by 11,000, while part-time roles rose 18,000 for women and 17,000 for men.

Hours worked fell 0.4% in August, “supported by less people working full-time hours this month,” said Sean Crick, head of labour statistics at the ABS.

The Reserve Bank of Australia expects unemployment to rise to 4.3% by December. (See MNI RBA WATCH: Bullock Points Toward Further Cuts)