Employment slows: A case of lies, damned lies and statistics?
13
Jan
2011
From Savanth Sebastian - CommSec
Labour force
- Employment rose by just 2,300 people in December, well below forecasts centred on job gains of around 25,000 (range from +10,000 to +40,000 jobs). The November result was not revised – recording job growth of 54,600 people. Full-time employment rose by 1,700 in December (November jobs were up by 55,400) and part-time jobs rose by 600 (November jobs fell by 800).
- Despite the meagre job growth, the unemployment rate fell from 5.2 per cent to 5.0 per cent. The main reason for the drop in unemployment was an apparent fall in the number of people in the workforce. The participation rate fell from a record high of 66.0 per cent to 65.8 per cent. The working age population rose by 19,700.
- Average hours worked fell by 0.2 per cent in December but rose by 2.8 per cent over the year.
- Across the states and territories unemployment rates in December were: NSW 4.6 per cent (5.0 per cent in November); Victoria 4.9 per cent (5.5 per cent); Queensland 6.0 per cent (5.6 per cent); South Australia 5.6 per cent (5.6 per cent); Western Australia 4.4 per cent (4.5 per cent); Tasmania 5.0 per cent (5.4 per cent); Northern Territory 2.6 per cent (2.7 per cent); ACT 3.3 per cent (3.2 per cent).
