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Australia Employment Change measures a change in the number of officially employed Australians in the reported month.
The indicator is calculated based on the Monthly Population Survey. The survey is based on a sample of approximately 26,000 private dwellings and covers approximately 0.32% of Australian citizens aged 15 years and over. The survey does not include members of the permanent defense forces, diplomatic personnel of overseas governments, overseas residents in Australia and members of non-Australian defense forces stationed in Australia.
Employed citizens include persons aged 15 years and over, who met one of the following criteria during the reported week:
- Worked at least 1 hour in a company, state institution or on a farm, for a pay, profit, fee or natural product
- Worked without a pay for at least 1 hour in a family business or on a farm
- Had a permanent job, but were off for a number of reasons (strike, temporary leave, etc.)
- Were business owners, but did not work
Employment is one of the key economic health indicators. Employment growth is an indication of a strengthening economy and is not only an indicator of social welfare, but is also a leading indicator of consumer spending. Thus, the change in population employment indirectly affects Australian GDP.
Also, employment growth is a sign of a stronger labor market and can be seen as positive for the Australian dollar quotes.
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