 | |  | | Australia May adj unemployment rate falls to 5.5 pct, lowest since 1981 UPDATE
2004-06-10 09:52
(Updating with table, details)
SYDNEY (AFX-ASIA) - The unemployment rate in May fell to a
seasonally-adjusted 5.5 pct from an unrevised 5.6 pct in April, its lowest
point since June 1981, the Australian Bureau of Statistics (ABS) said.
The ABS said total employment decreased by a seasonally-adjusted 41,100
to 9.6552 mln. Full-time employment decreased by 42,600 to 6.8957 mln while
part-time employment increased by 1,500 to 2.7595 mln.
The consensus market forecast for the unemployment rate in May was 5.6
pct, while total employment was expected to fall by 10,000, with forecasts
ranging from a fall of 25,000 to a rise of 15,000.
The participation rate was 63.5 pct in May, against 63.9 pct in April.
Economists had been looking for a participation rate of 63.8 pct.
The ABS released the following table (adjusted unless stated):
May 2004 April 2004
Jobless rate 5.5 pct 5.6 pct
Participation rate 63.5 pct 63.9 pct
Employed 9.6552 mln 9.6963 mln
Unemployed 560,500 574,300
Full-time employed 6.8957 mln 6.9383 mln
Part-time employed 2.7595 2.7580 mln
Jobless rate (trend) 5.6 pct 5.6 pct
Employed (trend) 9.6695 9.6511 mln
Unemployed (trend) 569,300 573,200 |  |  |  |  |
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