Labour Force is out and the strength continues with 46k full time jobs created in May. Part time fell 7k. The unemployment rate still rose 2bps to 5.1%. This result defies heavy falls in both the DEEWR and ANZ job ads for the month. Here are the details with more to come…
 | |
Apr 2012 |
May 2012 |
Apr 12 to May 12 |
May 11 to May 12 | ||
|
| |||||||
| Trend | | | | | | | |
| Employed persons (‘000) |
11 500.8 |
11 517.0 |
16.2 | |
0.7 | % |
| Unemployed persons (‘000) |
618.0 |
615.8 |
-2.2 | |
2.5 | % |
| Unemployment rate (%) |
5.1 |
5.1 |
0.0 | pts |
0.1 | pts |
| Participation rate (%) |
65.3 |
65.3 |
0.0 | pts |
-0.3 | pts |
| Seasonally Adjusted | | | | | | | |
| Employed persons (‘000) |
11 499.1 |
11 537.9 |
38.9 | |
1.0 | % |
| Unemployed persons (‘000) |
600.4 |
622.8 |
22.4 | |
4.5 | % |
| Unemployment rate (%) |
5.0 |
5.1 |
0.2 | pts |
0.2 | pts |
| Participation rate (%) |
65.2 |
65.5 |
0.3 | pts |
0.0 | pts |
MAY KEY POINTS
TREND ESTIMATES (MONTHLY CHANGE)
Employment increased to 11,517,000.
Unemployment decreased to 615,800 from a revised April 2012 estimate.
Unemployment rate was steady at 5.1%.
Participation rate steady at 65.3% from a revised April 2012 rate.
Aggregate monthly hours worked increased to 1,628.3 million hours.
SEASONALLY ADJUSTED ESTIMATES (MONTHLY CHANGE)
Employment increased 38,900 (0.3%) to 11,537,900. Full-time employment increased 46,100 (0.6%) to 8,107,900 and part-time employment decreased 7,200 (0.2%) to 3,430,100.
Unemployment increased 22,400 (3.7%) to 622,800. The number of persons looking for full-time work increased 6,500 (1.5%) to 430,000 and the number of persons looking for part-time work increased 15,900 (9.0%) to 192,800.
The unemployment rate increased 0.2 pts to 5.1%. The male unemployment rate was steady at 4.8% and the female unemployment rate increased 0.3 pts to 5.5%.
The participation rate increased 0.3 pts to 65.5%.
Aggregate monthly hours worked decreased 4.7 million hours to 1,627.2 million hours.
LABOUR UNDERUTILISATION (QUARTERLY CHANGE)
Trend estimates: The labour force underutilisation rate was steady at 12.6%.
Seasonally adjusted estimates: The labour force underutilisation rate increased 0.1 pts to 12.6%. The male labour force underutilisation rate decreased 0.3 pts to 10.4%. The female labour force underutilisation rate increased 0.6 pts to 15.2%.
