Australia Jobless Rate Rises to 9-Month High of 5.6%

Australia's seasonally adjusted unemployment rate unexpectedly edged up to 5.6 percent in April of 2018 from 5.5 percent in the prior month while markets expected 5.5 percent. It is the highest jobless rate since last July, as the economy added 22,600 jobs while the number of unemployed increased by 10,600.

In April, the number of unemployed went up by 10,600  to 741,000, as those looking for full-time work decreased by 17,100 to 506,100, while those looking for only part-time work rose by 27,600 to 234,900.

Employment increased by 22,600 to 12,501,000, above estimates of an increase of 20,000. Full-time employment increased by 32,700 to 8,543,400, while part-time employment dropped by 10,000 to 3.957,700. 

The labour force participation rate inched up to 65.6 percent from 65.5 percent in a month earlier and beating expectations of 65.5 percent. 

Seasonally adjusted monthly hours worked in all jobs increased by 19.4 million hours (1.11 percent) to 1,764.0 million hours. Meantime, the seasonally adjusted employment to population ratio remained steady at 61.9 percent in April.

Australia Jobless Rate Rises to 9-Month High of 5.6%

ABS l Rida |
5/17/2018 1:50:45 AM