Australia's Unemployment Rate Drops to 5% in December

Australia's unemployment rate decreased 0.2 percentage points to 5.0 per cent in December 2010 (seasonally adjusted)., Australian Bureau of Statistics 1/13/2011 6:53:39 PM

The Australian Bureau of Statistics reported the number of people employed increased by 2,300 people to 11.417 million, seasonally adjusted, in December. The rise in employment was driven by an increase in full-time employment, up 1,700 people to 8.034 million and an increase in part-time employment, up 600 people to 3.383 million.

The number of people unemployed decreased by 25,400 people to 598,700 in December, reported the ABS.

The ABS seasonally adjusted monthly aggregate hours worked series showed a decrease in December, down 3.4 million hours to 1,599.0 million hours.

The ABS reported labour force participation in December of 65.8 per cent, a decrease of 0.2 percentage points from November.