Jobless rate steady at 5.8 per cent

The jobless rate remained at 5.8 per cent for a third month in a row in May, but the number of people in employment fell by 4800.

Employment advertising in a newspaper

Australia's strong economic performance at the start of 2014 has failed to translate into more jobs. (AAP)

Australia's strong economic performance at the start of the year has failed to translate into more jobs overall.

New data showed that the number of people employed fell by 4800 in May when economists were expecting a 10,000 increase.

Those in full-time employment did rise 22,200, but were more than offset by a 27,000 drop in part-time workers.

The unemployment rate also remained at 5.8 per cent for a third month in a row.

Earlier, Treasurer Joe Hockey told ABC radio he was hoping for some good news on the unemployment front given that he had inherited a prediction that it would rise to 6.25 per cent.

"So far, it is remaining below six per cent and that is very encouraging," he said.

The national accounts released last week showed the economy growing at its fastest annual rate in around two years.

The steady jobless rate came despite a rise in the country's biggest state, NSW, increasing to 5.7 per cent from 5.4 per cent.

It also jumped to 6.8 per cent from 6.2 per cent in South Australia and to five per cent from 4.9 per cent in Western Australia.

However, in Victoria it fell to 6.2 per cent from 6.4 per cent, in Queensland it eased to 6.2 per cent from 6.3 per cent and in Tasmania it declined to 7.5 per cent from 7.6 per cent.

It also fell to 3.3 per cent from 3.5 per cent in the Northern Territory while it was unchanged at 3.3 per cent in the ACT.


Share

2 min read

Published

Updated


Share this with family and friends


Get SBS News daily and direct to your Inbox

Sign up now for the latest news from Australia and around the world direct to your inbox.

By subscribing, you agree to SBS’s terms of service and privacy policy including receiving email updates from SBS.

Download our apps
SBS News
SBS Audio
SBS On Demand

Listen to our podcasts
An overview of the day's top stories from SBS News
Interviews and feature reports from SBS News
Your daily ten minute finance and business news wrap with SBS Finance Editor Ricardo Gonçalves.
A daily five minute news wrap for English learners and people with disability
Get the latest with our News podcasts on your favourite podcast apps.

Watch on SBS
SBS World News

SBS World News

Take a global view with Australia's most comprehensive world news service
Watch the latest news videos from Australia and across the world