Unemployment rate remains at 5.5%

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Unemployment rate remains at 5.5%

Australia's seasonally adjusted unemployment rate 5.5 per cent in May, the Australian Bureau of Statistics announced today. There has been very little overall jobs growth, with full-time jobs decreasing, but offset by increased part-time employment.

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Australia’s seasonally adjusted unemployment rate 5.5 per cent in May, the Australian Bureau of Statistics (ABS) announced today. There has been very little overall jobs growth, with full-time jobs decreasing, but offset by increased part-time employment.
 
Overall, the number of people employed increased by 1100 to 11,663,300 in May. Part-time employment was up by 6400 people to 3,509,600, and full-time employment was down 5300 to 8,153,600. The increase in total employment was mainly driven by an increase in male part-time employment.
 
The number of people unemployed decreased by 3600 people to 682,900 in May, the ABS reported. This was driven mainly by the decrease in labour force participation (see below) rather than the creation of new jobs.
 
The ABS monthly seasonally adjusted aggregate hours worked series showed a decrease in May, down 11.5 million hours to 1628.5 million hours.
 
Labour force participation
 
The ABS reported a seasonally adjusted labour force participation rate decrease of 0.1 percentage points to 65.2 per cent in May.
 
Seasonally adjusted part-time employment rose in May 2013, up 6400 people to 3,509,600 people while full-time employment fell by 5300 people to 8,153,600 people.
 
The increase in total employment resulted from:
    • an increase in male part-time employment, up 15,700 people
    • an increase in male full-time employment, up 2400 people
    • a fall in female part-time employment, down 9300 people
    • a fall in female full-time employment, down 7800 people.
Underemployment rate
 
The seasonally adjusted underemployment rate was 7.4 per cent in May 2013. Combined with the unemployment rate of 5.5 per cent, the latest seasonally adjusted estimate of total labour force underutilisation was 12.9 per cent in May.
 
Details
 
More details are in the May 2013 issue of Labour Force, Australia (cat. no. 6202.0), as well as the upcoming May 2013 issues of Labour Force, Australia, Detailed (cat. no. 6291.0.55.001) and Labour Force, Australia, Quarterly (cat. no. 6291.0.55.003), due for release next week on June 20. These publications are available for free download from the ABS website.
 
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