A Fall In Australian Unemployment Rate

With the introduction of 37,400 jobs the figures for Australian unemployment have fallen with a number of the jobs made available being full time positions.

The data from Bureau of Statistics showed that the prediction made by Bloomberg that the previous figure of 6.3 per cent was to remain the same is in fact not correct. With the injection of more jobs has given the opportunity to those who had found themselves out of work to get back into employment.

Figures showed that now there are 41,600 in full-time employment and that has offset the figure of 4,100 fall in part time jobs. Also, there was an increase of 0.1 per cent of people aged 15 and over who are actively looking for work. This figure stood at 64.7 and rose to 64.8 per cent.

In the official release of the figures, the UBS economics team said, “Today’s labour market data was clearly much better than expected (again), with a welcome lift in jobs growth to a near four-year high of 1.9 per cent year-on-year, to finally be more consistent with the leading indicators of employment, which we have long flagged as pointing to an imminent pick-up,”

Australia is seeing a positive move in its labour market and this will have a great affect on the economy which has seen the Australian Dollar rise from 81.4 to just over 82 US cents. Job prospects in the country are increasing with more positions being introduced.