Australian Unemployment Falls

The Australian unemployment rate declined to 5.1% in August, according to data released by the Australian Bureau of Statistics, a drop that surpassed economist expectations.

Australia's unemployment rate decreased 0.2 percentage points over the month. The number of people employed in the country rose 30,900 to 11,272 million on a seasonally adjusted basis, according to the data. The number of people unemployed decreased by 22,500 people to 607,700 in the month. The ABS seasonally adjusted monthly aggregate hours worked series showed a rise in August, up 14.8 million hours to 1,594.1 million hours. The ABS reported the participation rate in August decreased 0.1 percentage point to 65.4 per cent.

Australian Unemployment Falls, ABS
9/9/2010 10:19:44 PM