Thursday, 18 April, 2019

Washington unemployment rate at 4.7 percent

May's fall in the unemployment rate was unpredicted May's fall in the unemployment rate was unpredicted
Priscilla Morrison | 16 June, 2018, 11:49

Despite weaker-than-expected jobs growth, the unemployment rate has dropped to 5.4 per cent - its lowest rate since November a year ago.

The seasonally adjusted unemployment rate fell to 5.4 per cent from 5.6 per cent in April, with employment growing by 12,000 jobs and the participation rate dropping by 0.2 points to 65.5 per cent, figures from the Australian Bureau of Statistics show.

The underemployment rate, which is the proportion of people who are working but would like to work more hours, remains below the peak of 8.7 per cent seen in 2017. The May unemployment rate was slightly lower than the April 2018 unemployment rate of 4.8 percent.

However, that result was achieved despite a loss of full-time jobs.

The most jobs were created in Victoria, up 22,100, followed by Queensland, with 5000 more people in work and NSW, up 2800.

The national unemployment rate for March was 3.8 percent.

South Australia's jobless rate has fallen to 5.6 per cent, continuing the state's relatively strong performance over recent months.

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Employment increased 12,000 to 12,518,300.

Jobs growth has slid dramatically, with new employment figures showing only 95,900 extra workers employed during the past six months, down from 208,000 employed in the previous six months.

The largest decline was seen in WA where employment dropped 1,900.

The participation rate dipped to 65.5 percent, below expectations for 65.6 percent and down from 65.7 percent in April.

Unemployment decreased 26,800 to 714,600.

State Industry and Skills Minister David Pisoni said the total number of South Australians in work was at a record high, with 842,600 people in employment.

Trend estimates: the labour force underemployment rate increased by less than 0.1 pts to 8.5%.

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