Australia: Unemployment rate declines in May
June 15, 2017
Seasonally-adjusted employment increased by 42,000 jobs in May compared to the previous month, down from the 46,100 new jobs created in April. May’s figure overshot analysts’ expectations of 10,000 new jobs. The increase in employment reflects an increase in full-time positions of 52,100 in May (April: -5,700), while the number of part-time positions fell by 10,100 in the same month, down from the 51,900 part-time positions created in April.
The labor market participation rate edged up to 64.9% in May (April: 64.8%), which led the unemployment rate to fall from April’s 5.7% to 5.5% in May.
Author: Christopher Mc Innes, Economist