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Australia – Unemployment steady in February

14 March 2013

Australia's seasonally adjusted unemployment rate remained steady at 5.4% in February as more jobs were added than expected, the Australian Bureau of Statistics (ABS) announced on Thursday.  The unemployment rate beat forecasts of 5.5%.

The ABS reported that the number of people employed increased by 71,500 to 11,628,300 in February. The rise in employment was due to an increase in part-time jobs which grew by 53,700 in the period.

Full-time employment meanwhile rose by 17,800 to 8,117,400 in February. The increase in total employment was driven by a rise in male part-time employment, and female full-time and part-time employment, the ABS said.

The number of people unemployed increased by 400 people to 660,000 in February, the ABS reported. The labour force participation rate was up +0.3% to 65.3% in February.

Aggregate monthly hours worked increased by 11.3 million hours to 1,632.8 million hours.

The seasonally adjusted underemployment rate was 7.1% in February 2013. Combined with the unemployment rate of 5.4%, the latest estimate of total seasonally adjusted labour force underutilisation was 12.5%. 

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