Australia, Jul 2014 – Unemployment jumps to 12-year high

Australia’s unemployment rate increased by 0.3 percentage points (based on unrounded estimates) to 6.4% in July 2014 (seasonally adjusted). The increased unemployment rate resulted from increased participation with the number of persons in the labour force increasing by 43,400 persons, and the number of employed persons decreasing by 300. The net result was the number of unemployed persons increased by 43,700 to 789,000 in July 2014 (seasonally adjusted)…

The seasonally adjusted number of employed persons decreased by 300 in July 2014 to 11,576,600 persons. In trend terms, employment increased by 4,600 persons to 11,582,200 persons in July 2014. The employment to population ratio, which expresses the number of employed persons as a percentage of the civilian population aged 15 years and over, decreased 0.1 percentage points to 60.7% (seasonally adjusted). The trend employment to population ratio remained steady at 60.8%, following a revision to the June 2014 estimate.

Chosen excerpts by Job Market Monitor. Read the whole story at  6202.0 – Labour Force, Australia, Jul 2014.