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Unemployment hikes in May

Staff Reporter 1 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.

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
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