Australia

Jobless rate down but fewer full-time jobs

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Australia's jobless rate fell to 5.4 per cent in May, beating market expectations, with full-time jobs decreasing and part-time work growing.

Australia's unemployment rate fell to 5.4 per cent in May, beating market expectations of no change but there were fewer people in full-time jobs.

The seasonally adjusted unemployment rate fell to 5.4 per cent from 5.6 per cent in April, with employment growing by 12,000 jobs and the participation rate dropping by 0.2 points to 65.5 per cent, figures from the Australian Bureau of Statistics 

Most economists were expecting an increase of 19,000 jobs and an unemployment rate in line with April's 5.6 per cent.

Full-time employment decreased by 20,600 jobs while part-time work grew by 32,600 jobs and monthly hours worked in all roles dropped by 24.2 million hours, or 1.4 per cent.

The most jobs were created in Victoria, up 22,100, followed by Queensland, with 5,000 more people in work and NSW, up 2,800.

Western Australia suffered the largest drop in employment, with 1,900 fewer people in work.

The ABS figures come on the same day employment ads company SEEK said it had 10.7 per cent more job ads in May compared with the same month last year, with resources, government, and defence among areas experiencing the highest growth.

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