Australia’s unemployment rate falls to 5.7% in September
Labour force figures released today by the Australian Bureau of Statistics show that the unemployment rate fell in September to 5.7 per cent.
The result is below market expectations which had been at 6.0 per cent.
While this is a positive result for job seekers, more than 650,000 Australians remain out of work and more than 150,000 people have lost their jobs in the past year.
Seasonally adjusted employment rose against market expectations in September by 40,600, with full time employment increasing by 35,400, and part-time employment increasing by 5,200.
The labour force participation rate increased by 0.1 % to 65.2%
This result occurs in the face of the worst global recession in more than 75 years. There is no doubt that without timely, targeted and temporary action, unemployment in this country would be much worse.
Both the ANZ Job Advertisements and Olivier Job Index rose in September indicating an increase in the total number of jobs advertisements, but both remain at significantly lower levels than 12 months ago.
Unemployment has just reached 9.8 per cent in the US, in the UK it stands 7.9 per cent, Canada 8.7 per cent and Germany 8.2 per cent. The US unemployment rate has now doubled since the start of their recession in December 2007.
These are difficult times for working people around the globe and while the Australian economy is performing well we cannot isolate ourselves from the effects of the global recession.
The Government will continue to invest in infrastructure and support jobs, while at the same time making training opportunities available for hundreds of thousands of Australians.
Topics: Australia, global economic crisis, Governance, jobs, Labour Force Figures, market expectation, recession, unemployment rate
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