Australia Jobless Rate Edges Down to 5.5% in January

Australia's seasonally adjusted unemployment rate fell slightly to 5.5 percent in January of 2018 from an upwardly revised 5.6 percent in the preceding month and in line with market consensus. The economy added 16,000 jobs while the number of unemployed declined by 7,900.

In January, the number of unemployed dropped by 7,900  to 723,800, as those looking for full-time work fell by 4,500 to 497,800 and those looking for only part-time work went down by 3,400 to 22,6000

Employment increased by 16,000 to 12,453,500, above estimates of an increase of 15.000. It was the 16th straight month of gains in employment, the longest such streak since the monthly series began in 1978. Full-time employment decreased by 49,800 to 8,460,900 and part-time employment grew by 65,900 to 3.992,600. 

The labour force participation rate edged down to 65.6 percent from 65.7 percent in a month earlier and matching expectations.

Seasonally adjusted monthly hours worked in all jobs dropped by 24.1 million hours (1.4 percent) to 1,708.2 million hours. Meantime, the seasonally adjusted employment to population ratio remained steady at 62.0 percent.

Australia Jobless Rate Edges Down to 5.5% in January

ABS l Rida Husna |
2/15/2018 2:30:32 AM