Australia: Unemployment rate climbs in January
February 18, 2016
In January, the labor market lost 7,900 jobs compared to the previous month, in seasonally-adjusted terms. The decrease was a drastic deterioration over December’s 800 job increase. January’s tally surprised markets, which had expected an increase of 15,000 jobs in January. January’s result was driven by a decrease in the number of full-time jobs, and an increase in the number of part-time jobs. The number of part-time positions grew by 32,700 jobs (December: -17,800 jobs), while the number of full-time positions fell by 40,600 jobs (December: +17,000 jobs).
The labor market participation rate was steady at December’s 65.2% in January. The unemployment rate inched up from 5.8% in December to 6.0% in January.
Author: Robert Hill, Economist