Finance Work Unemployment rate edges lower to 5 per cent

Unemployment rate edges lower to 5 per cent

unemployment rate
An increase in part-time employment is behind the fall in the jobless rate. Photo: AAP
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Australia’s unemployment rate edged lower in December to a seasonally adjusted 5.0 per cent, but the number of people in full-time work has dropped again.

Part-time employment drove a 21,600 increase in the number of people with jobs during the month – better than consensus expectation of 18,000 extra jobs.

But Thursday’s data from the Australian Bureau of Statistics showed the number of people employed full time dropped 3000.

This follows a 6400 drop in full-time employment during November, when an increased participation rate led to an unexpected jump in the unemployment rate to 5.1 per cent.

The Aussie dollar traded slightly higher after the release. It was buying 71.61 US cents at 11.40 AEDT.