The unemployment rate fell to 5.7% from 5.8% in December, courtesy of a drop in labour market participation to 64.6%. Participation previously stood at 64.7% in December. Australia’s total labour force — including those in work and those seeking work — fell to 12,718,500. Over the past year it’s increased by 0.5%, or 65,400, well below the increase in Australia’s total population.
Australian Unemployment Rate fell to 5.7%
According to the ABS, employment rose by 13,500 in seasonally adjusted terms, beating expectations for a gain of 10,000. December’s increase, previously reported as a gain of 13,500, was revised higher to a rise of 16,300. Australian employment now stands just a whisker below 12 million, coming in at 11,998,200 for the month. It has grown by 0.9%, or 103,400 workers, in the past year. Full-time employment now stands at 8,125,700 with part-time employment at 3,872,500.
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