Unemployment Up To 5.4% October 2010

Unemployment Up To 5.4% October 2010

Australian Bureau Of Statistics

Australia’s Unemployment Rate Increased 0.2 Percentage Points To 5.4 % In October 2010

Victor P Taffa

The Australian Unemployment Rate increased 0.2 Percentage Points to 5.4 % in October, the Australian Bureau of Statistics announced today.

The ABS reported the number of People Employed increased by 29,700 people to 11.356 million, seasonally adjusted, in October. The Rise in Employment was driven by an increase in part-time employment, up 43,800 People to 3.385 Million that was partially offset by a Decrease in Full-Time Employment, Down 14,100 People to 7.971 Million.

The number of People Unemployed increased by 32,100 people, to 646,500 in October, the ABS said.

The ABS seasonally adjusted monthly aggregate hours worked series showed a rise in October, up 7.9 million hours to 1,602.6 million hours.

The ABS reported a record high for the labour force participation in October of 65.9 %, a rise of 0.3 Percentage Points from September.

OCTOBER KEY POINTS

TREND ESTIMATES (MONTHLY CHANGE)

  • Employment increased to 11,339,400
  • Unemployment increased to 628,200
  • Unemployment rate at 5.2%
  • Participation rate increased 0.1 pt to 65.7%
  • Aggregate monthly hours worked increased to 1,601.2 Million Hours

SEASONALLY ADJUSTED ESTIMATES (MONTHLY CHANGE)

  • Employment increased 29,700 (0.3%) to 11,355,900. Full-time Employment decreased 14,100 to 7,970,900 and part-time employment increased 43,800 to 3,385,000.
  • Unemployment increased 32,100 (5.2%) to 646,500. The number of persons looking for full-time work increased 30,000 to 456,400 and the number of persons looking for part-time work increased 2,100 to 190,100.
  • Unemployment rate increased 0.2 pts to 5.4%. The male unemployment rate increased 0.2 pts to 5.2% and the female unemployment rate increased 0.3 pts to 5.6%.
  • Participation rate increased 0.3 pts to a record high of 65.9%.
  • Aggregate monthly hours worked increased 7.9 million hours (0.5%) to 1,602.6 Million hours.

OCTOBER KEY FIGURES

Sep 2010

Oct 2010

Sep 10 to Oct 10

Oct 09 to Oct 10


Trend
Employed persons (‘000)

11, 313.7

11, 339.4

25.7

3.2

%
Unemployed persons (‘000)

623.9

628.2

4.2

-5.3

%
Unemployment rate (%)

5.2

5.2

0.0

pts

-0.4

pts
Participation rate (%)

65.6

65.7

0.1

pts

0.4

pts
Seasonally Adjusted
Employed persons (‘000)

11, 326.2

11, 355.9

29.7

3.4

%
Unemployed persons (‘000)

614.4

646.5

32.1

-3.4

%
Unemployment rate (%)

5.1

5.4

0.2

pts

-0.4

pts
Participation rate (%)

65.6

65.9

0.3

pts

0.6

pts