Australia Unemployment Rate Steady At 4.2%

(RTTNews) - Australia's unemployment rate remained stable and employment decreased unexpectedly in August, data from the Australian Bureau of Statistics showed Thursday.

The jobless rate held steady at seasonally adjusted 4.2 percent in August and matched expectations.

Meanwhile, the number of employed persons fell 5,400 from the previous month, while it was forecast to increase by 21,200.

A sharp fall of 41,000 in full-time employment drove the overall drop in employment numbers, ABS head of labor statistics Sean Crick said. Meanwhile, part-time employment showed a 36,000 increase.

The participation rate dropped to 66.8 percent in August from 67.0 percent in July.