Unemployment

The economic growth forecast for Australia has been heavily reduced, increasing the likelihood of an imminent interest rate cut.

The national unemployment rate stayed at 5.2 per cent for the month of May but the number of jobs created did rise by over 42,000.

The Australian Bureau of Statistics has today released another healthy set of unemployment figures for the month of December, in which another 35,000 people in the country found a job.

Unemployment in Australia has dropped to its lowest level in four-and-a-half years.

Today’s jobless figures have revealed a higher than expected unemployment rate.

Australia’s unemployment rate remains at a four-year high of 5.8 per cent. 

Figures released by the Bureau of Statistics show the economy lost 31,600 full-time jobs in December.

The surprise drop in Australia’s unemployment rate in December has proved an anomaly with the figure surging back up to 6.4 per cent in January.

Australia’s unemployment rate has remained steady for the last month at 6.2 per cent.

While the unemployment rate remained unchanged, the actual number of jobs available fell by 5,100.