Australia Jobless Rate Holds at 8-Month High in May

Australia's seasonally adjusted unemployment rate stood at 5.2 percent in May 2019, unchanged from the previous month's eighth month-high and above market expectations of 5.1 percent. The economy added 42,300 jobs while the number of unemployed fell by 2,400.
ABS l Rida Husna | 6/13/2019 10:28:46 AM
The number of unemployed declined by 2,400 to 704,700 in May 2019. People looking for full-time work were little-changed from the preceding month at 492,900 while those looking for only part-time work dropped 2,400 to 211,700. Male unemployment increased by 5,100, while female unemployment declined 7,500.

Employment jumped 42,300 to 12,868,200 in May, easily beating market consensus of a 17,500 gain and after an upwardly revised 43,100 increase in April. Full-time employed persons advanced 2,400 to 8,792,900, while part-time employed persons went up 39,800 to 4,075,400.

The participation rate edged up 0.1 points from a month earlier to a record-high of 66.0 percent in May, beating forecasts of 65.8 percent. Meantime, the employment to population ratio rose 0.1 points to 62.6, the highest since October 2008.

The underemployment rate gained 0.1 points to 8.6 percent in May while the underutilisation rate remained steady at 13.7 percent.

Seasonally adjusted monthly hours worked in all jobs decreased by 5.9 million hours, or 0.3 percent, to 1,775.0 million hours.

Australia Jobless Rate Holds at 8-Month High in May