Australia Unemployment Rate Steady at 5.4 Percent

Australia's seasonally adjusted unemployment rate remained steady at 5.4 percent in February. The number of people unemployed increased by 400 people to 660,000 in February, as announced by the Australian Bureau of Statistics.

The ABS reported the number of people employed increased by 71,500 to 11,628,300 in February. The increase in employment was due to increased part-time employment, up 53,700 people to 3,510,800 and increased full-time employment, up 17,800 to 8,117,400. The increase in total employment was driven by an increase in male part-time employment, and female full-time and part-time employment.

The ABS monthly seasonally adjusted aggregate hours worked series showed an increase in February, up 11.3 million hours to 1,632.8 million hours. The seasonally adjusted labour force participation rate increased 0.3 percentage points to 65.3 per cent in February. 
The seasonally adjusted underemployment rate was 7.1 per cent in February 2013. Combined with the unemployment rate of 5.4 per cent, the latest estimate of total seasonally adjusted labour force underutilisation was 12.5 per cent in February.

ABS | Nuno Fontes |
3/14/2013 9:03:38 AM