Australia: Unemployment inches down in September
October 8, 2011
In September, the labour market added 20,400 jobs over the previous month in seasonally-adjusted terms, which contrasted the 10,500 jobs lost (previously reported: -9,700 jobs) in August and was above market expectations that only 10,000 new jobs would be created. The September reading comprised a significant increase both in the number of full-time jobs (+10,800) and part-time positions (+9,600 jobs). Meanwhile, the number of total job seekers dropped by 3,800 persons in September, contrasting the increase of 19,000 new job seekers recorded in August. As a consequence of the decline in the number of job seekers, unemployment inched down from 5.3% in August to 5.2% in September, which was better than market expectations, which had the unemployment rate unchanged at 5.3%.
Author: Armando Ciccarelli, Head of Data Solutions