Surprise fall in May jobless rate

An increase in full-time employment has seen Australia's unemployment rate fall to 5.2 percent in May

Surprise fall in May jobless rate
Surprise fall in May jobless rate
June 10, 2010

New data out today shows the Australian unemployment rate decreased from 5.4 percent in April to 5.2 percent in May.

As reported by the ABS, the number of people employed increased by 26,900 people to 11.057 million – seasonally adjusted.

The rise in employment was driven by an increase in full-time employment, up 36,400 people to 7.780 million.

This was offset by a fall in part-time employment, down 9,400 people to 3.277 million.

In a show of strength for the local economy, this is the ninth consecutive month Australia has seen a rise in the number of people employed full-time.

The number of people unemployed decreased 25,400 people to 600,900 in May.

The ABS seasonally adjusted monthly aggregate hours worked series showed an increase over the month, up 43.9 million hours to 1,574.5 million hours.

Meanwhile, the seasonally adjusted participation rate decreased 0.2 pt to 65.1 percent.

The seasonally adjusted labour force underutilisation rate was 12.2 percent in May, down 0.5 percentage points from February.

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