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Steady jobs growth keeps unemployment stable

Steady jobs growth keeps unemployment stable

The latest job figures from the Australian Bureau of Statistics (ABS) show the nation’s unemployment rate held steady over October 2017.

The 5.5% unemployment figure comes on the back of a 13th straight month of full-time employment growth on a trend basis; this month by 16,000 persons. Part time employment also increased by 4000 persons.

Looking at the figures year on year, trend employment increased by 2.9% over the past 12 months, which is above the average year on year growth over the past 20 years of 1.9%. This comes from a net increase of 347,000 employed persons, 289,000 of which are employed full time.

Australian employment

September 2017October 2017Monthly changeAnnual change
Employed persons12,281,20012,301,20020,0002.9%
Unemployed persons712,300709,400-3000-1.6%
Unemployment rate5.5%5.5%-0.2 points
Participation rate65.2%65.2%0.7 points

Source: ABS

States and territories

Going state by state,the largest monthly trend increases in employment were recorded in Queensland (7900) and New South Wales (6700). The only areas that recorded decreases were Tasmania (down 300 persons) and the Northern Territory (down 100 persons).

On an annual basis, the regions with the strongest annual employment growth were found to be Queensland with 4.6%, the ACT with 3.1%, Tasmania with 3%, and Victoria with 2.8%.

Unemployment rate by state/territory

September 2017October 2017

Source: ABS

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