Australia: Unemployment rate inches down in May
June 11, 2015
In May, the labor market gained 42,000 jobs compared to the previous month in seasonally-adjusted terms. The increase contrasted last month’s decrease of 13,700 jobs and surprised analysts who had predicted an increase of 31,000 jobs. The result was driven by a 14,700 rise in full-time employment, while part-time positions increased by 27,300.
The labor market participation rate was stable at 64.7% for the third consecutive month. As a result of the jobs increases, the unemployment rate fell 0.1 percentage points to 6.0% in May.
Author: Robert Hill, Economist