Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Unemployment hikes in May

Staff Reporter 3 minute read

Australia’s unemployment rate yesterday shifted closer to 6 per cent but remains one of the lowest in the developed world.

Data from the ABS yesterday showed the unemployment rate rose from 5.5 to 5.7 per cent in May as full time jobs decreased and part time positions soared.

Only 1,700 jobs were lost over the month as employers moved to avoid redundancies by increasing part time positions.

Part time employment increased by 24,500 to 3.15 million positions.

Advertisement
Advertisement

Prime minister Kevin Rudd said it wasn’t nice to see employment rise but he emphasised Australia remained in an enviable position.

"We must not forget that even after today's data Australia's unemployment rate is lower than all the major advanced economies, except Japan."

 

Unemployment hikes in May
default
TheAdviser logo

The not-to-be-missed Accountants Daily Strategy Day will travel through Melbourne and Sydney in August to equip accounting professionals with the latest industry updates and tips for modern practice management as well as the latest cutting-edge technology, processes, strategies and trends shaping the future of accounting. Visit the website for more information: www.accountantsdaily.com.au/strategy-day

PROMOTED CONTENT


default

 

more from the adviser
David Hyman

Breaking News

Brokers promote competition in lending: Lendi

Brokers are driving competition in the mortgages sector and chang...

money au ta

Breaking News

SME fintech closes $25m raise to fund expansion

An SME lender has raised $25 million in equity to fund the ‘rap...

loan application

Breaking News

Hot Property: The biggest property headlines from the week 26 to 30 July

The weekly round-up of the biggest news stories from across Momen...