Australia: Unemployment rate picks up at the end of 2012
January 17, 2013
In December, the labour market shed 5,500 jobs over the previous month in seasonally adjusted terms. The figure contrasted both the 17,100 increase recorded in November (previously reported: +13,900) and market expectations that had the economy adding 5,000 new jobs. The reading was driven by a strong decrease in full-time jobs (-13,800), which more than offset an increase in part-time positions (+8,300).
Meanwhile, the number of total job seekers rose by 16,600 persons in December (November: -16,300). As a result of the increase, the unemployment rate inched up from 5.3% in November to 5.4% in December, matching market expectations.
Author: Armando Ciccarelli, Head of Data Solutions