Thursday, 8 November 2007

Aust Full-time Employment grows strongly in Oct

Whilst the unemployment rate ticked up slightly in from 4.2% to 4.3% full-time employment growth remained strong in October.From the abs:


* increased by 12,900 to 10,533,800. Full-time employment increased by 70,600 to 7,587,700 and part-time employment decreased by 57,700 to 2,946,100.


* increased by 15,700 to 478,500. The number of persons looking for full-time work increased by 7,400 to 316,300 and the number of persons looking for part-time work increased by 8,300 to 162,200.


* increased by 0.1 percentage point to 4.3%. The male unemployment rate increased by 0.2 percentage points to 4.0%, and the female unemployment rate increased by 0.1% percentage point to 4.8%.


* remained steady at 65.0%.

Year over year employment growth continues to chug along nicely registering 2.7% in the year to October. Strong jobs growth is commensurate with the view expressed on Wednesday by the RBA that sees continued strong domestic demand and a tight labour market.