Australia: Unemployment rate inches down in January
February 16, 2012
In January, the labour market gained 46,300 jobs over the previous month in seasonally adjusted terms, contrasting the 35,600 jobs lost in December (previously reported: -29,300 jobs). The figure overshot market expectations that 10,000 jobs would be created. The January reading reflected increases both in the number of part-time jobs (+12,300) and full-time positions (+34,000). Meanwhile, the number of total job seekers dropped by 15,300 persons in January (December: -3,900). Accordingly, unemployment inched down from 5.2% in December to 5.1% in January, which contrasted market expectations that had the unemployment rate picking up to 5.3%.
Author: Armando Ciccarelli, Head of Data Solutions