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Part-time boom sends jobless rate lower

Thursday June 14, 2018

The Advertiser

Australia's jobless rate is at its lowest level in six months despite a drop in the number of people in full-time work in May.

The seasonally adjusted unemployment rate fell to 5.4 per cent as part-time work drove employment growth of 12,000 positions, figures from the Australian Bureau of Statistics show.

Most economists were expecting an increase of 19,000 jobs and an unemployment rate in line with April's 5.6 per cent.

Full-time employment fell by 20,600 jobs in May, and monthly hours worked in all roles dropped by 1.4 per cent, providing little evidence that wages growth is set to improve.

BIS Oxford Economics macroeconomics head Sarah Hunter said the data was disappointing, with full time employment hardly changed since the start of the year.

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