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- Australia's unemployment rate fell to 5.1% in May
Australia's unemployment rate fell to 5.1% in May
RTTNews reports that the Australian Bureau of Statistics said that the jobless rate in Australia came in at a seasonally adjusted 5.1 percent in May, well below expectations for 5.5 percent, which would have been unchanged from the April reading.
Economy added 115,200 jobs last month to 13,125,100, blowing away forecasts for an increase of 30,000 following the loss of 30,600 in the previous month.
Full-time employment gained 97,500 jobs in May after adding 33,800 in April. Part-time employment gained 17,700 after shedding 64,400 jobs in the previous month.
The participation rate was 66.2 percent, exceeding expectations for 66.1 percent and up from 66.0 percent a month earlier.
Monthly hours worked in all jobs increased by 25.2 million hours (1.4 percent) to 1,814 million hours, while the underemployment rate decreased by 0.3 percent to 7.4 percent.
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