Australia’s Unemployment Rate Held Steady in May

Australia’s jobless rate held steady at 4.9% in May, while slower jobs growth pushed back the likelihood of another interest-rate hike by the nation’s central bank anytime soon.

Employment increased 7,800 (0.1%) to 11,440,500. Full-time employment decreased 22,000 to 8,027,100 and part-time employment increased 29,800 to 3,413,500.

Unemployment increased 8,900 (1.5%) to 592,800. The number of persons looking for full-time work increased 6,700 to 421,800 and the number of persons looking for part-time work increased 2,200 to 171,100.

The male unemployment rate decreased 0.2 pts to 4.5% and the female unemployment rate increased 0.4 pts to 5.4%.

The participation rate remained steady at 65.6%. Aggregate monthly hours worked increased 6.4 million hours to 1,601.1 million hours., Australian Bureau of Statistics
6/9/2011 4:09:57 PM