Australia | Unemployment rate at 4.9% : 12-month low as people stop looking for a job

TREND ESTIMATES (MONTHLY CHANGE)

• Employment increased to 11,484,200.
• Unemployment decreased to 614,200.
• Unemployment rate steady at 5.1% from a revised March 2012 rate.
• Participation rate steady at 65.2% from a revised March 2012 rate.
• Aggregate monthly hours worked increased to 1,624.1 million hours.

SEASONALLY ADJUSTED ESTIMATES (MONTHLY CHANGE)

• Employment increased 15,500 (0.1%) to 11,501,000. Full-time employment decreased 10,500 (0.1%) to 8,062,800 and part-time employment increased 26,000 (0.8%) to 3,438,200.
• Unemployment decreased 28,800 (4.6%) to 598,200. The number of persons looking for full-time work decreased 22,000 (4.9%) to 423,800 and the number of persons looking for part-time work decreased 6,800 to 174,500.
• The unemployment rate decreased 0.2 pts to 4.9%. The male unemployment rate decreased 0.2 pts to 4.8% and the female unemployment rate decreased 0.2 pts to 5.1%.
• The participation rate decreased 0.1 pts to 65.2%.
• Aggregate monthly hours worked increased 6.6 million hours to 1,633.9 million hours.

Source:

Unemployment drops as job seekers give up – ABC News (Australian Broadcasting Corporation)

Australia’s unemployment rate dropped to a 12-month low of 4.9 per cent last month in a surprise result as people gave up looking for work.

The latest figures from the Australian Bureau of Statistics show a total of 15,500 jobs were created in April on a seasonally-adjusted basis, driven by a jump in part-time work.

While 26,000 part-time positions were created in the month, 10,500 full-time jobs disappeared…

Source:

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