Australias unemployment rate drops unexpectedly to 5.6pc Australias unemployment rate fell unexpectedly from 5.8 per cent to 5.6 per cent last month, helped by a decline in workforce participation and some modest job creation. The number of people employed rose by 9,100 in September, seasonally adjusted, with growth in both full-time jobs (up 5,000) and part-time positions (up 4,100), according to the latest labour force figures from the Australian Bureau of Statistics. The participation rate, which is the proportion of people in work or looking for work, fell to 64.9 per cent, the lowest level since November 2006. While persistently weak job creation shows the labour market remains soft, ANZ head of Australian economics Justin Fabo says there are encouraging signs in other surveys of hiring intentions.
Posted on: Fri, 18 Oct 2013 02:29:18 +0000
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