Australia Unemployment


Unemployment rate steady at more-than-two-year high

In October, the labour market added 10,700 jobs over the previous month in seasonally adjusted terms. The figure was below the 15,500 increase recorded in September (previously reported: +14,500 jobs) but contrasted market expectations of 5,000 jobs lost. The reading was driven by an increase in full-time jobs (+18,700), which more than compensated for a drop in part-time positions (-8,000). Meanwhile, the number of total job seekers dropped by 8,800 persons in October (September: +38,800). Despite the decrease, the unemployment rate was unchanged at September's 5.4%, the highest jobless rate since April 2010, but was below market expectations of unemployment inching up to 5.5%.

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Australia Unemployment Chart

Australia Unemployment October 2012

Note: Seasonally adjusted unemployment rate in % and new jobs in thousands.
Source: Australian Bureau of Statistics.

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