Australian Unemployment Rises in July


Australia's unemployment rate rose to 5.3 percent in July as the number of people entering the work force outpaced growth in new jobs.

A total of 631,800 people were unemployed in July, up from 607,200 the previous month, which lifted the unemployment rate from June's 5.1 percent, the Australian Bureau of Statistics said. The figures are adjusted to remove the influence of short-lived seasonal factors.

The number of people with jobs increased by 23,500 to just over 11.23 million people driven by an increase in part-time employment while full-time jobs fell slightly.

Australia's unemployment rate rose to a seasonally adjusted 5.3% in July, up from 5.1% in the previous month, the Australian Bureau of Statistics said. However, the net job gain of 23,500 beat that survey's forecast for a 20,000 rise. The divergent direction in the two measures came as the labor participation rate rose 20 basis points to 65.5%.


TradingEconomics.com, Bloomberg
8/12/2010 11:35:20 AM