Australia: Unemployment rate rises June
July 8, 2012
In June, the labour market lost 27,000 jobs over the previous month in seasonally adjusted terms, which contrasted the 27,800 new hires recorded in May (previously reported: +38,900 jobs) and was down from market expectations that had employment remaining unchanged. The reading reflected a strong drop in full-time positions (-33,500), which was not fully offset by a rise in part-time jobs (+6,600). Meanwhile, the number of total job seekers increased by 7,200 persons in June (May: +21,200). As a result, the unemployment rate inched up from 5.1% in May to 5.2%, matching market expectations and marking the highest level in four months.
Author: Armando Ciccarelli, Head of Data Solutions