Australia: Unemployment jumps in October on record number of new job seekers
November 11, 2010
In October, the economy added 29,700 jobs in seasonally-adjusted terms, down from the 49,600 jobs created in September (previously reported: +49,500 jobs). The rise in employment was driven by an increase in part-time employment (+43,800), that was partly offset by a decline in full-time employment (-14,100). The decline in full-time positions represented the strongest decrease since August 2009. The number of total job seekers rose by 32,100 workers, marking the strongest increase since May 2009. As a consequence, the unemployment rate jumped from September's 5.1% to 5.4% in October.
Author: Armando Ciccarelli, Head of Data Solutions