Nation’s jobless rate edges up

AUSTRALIA’S jobless rate increased from a six-year low to a seasonally adjusted 5.1 per cent in November, despite market expectations the figure would remain unchanged.

Part-time employment drove a 37,000 increase in the number of people with jobs during the month, better than a consensus expectation of 20,000 extra jobs.

However yesterday’s data from the Australian Bureau of Statistics also showed overall unemployment increased by 12,500 people to 683,100.

This included a 6400 drop in the number of people in fulltime employment. Chief Australia Economist for BIS Oxford Economics, Sarah Hunter, said the data confirmed her view that, while the labour market was steadily moving towards full employment, there was still spare capacity to absorb.

“This will keep pressure on wages low … it will be some time yet before we see a broadbased acceleration in wages growth,” Ms Hunter said.

Overall male unemployment increased by 11,500 in November, while female unemployment went up 1000. The monthly seasonally adjusted underemployment rate increased to 8.5 per cent, while the monthly under-utilisation rate increased to 13.6 per cent. The November participation rate increased to 65.7 per cent, while seasonally adjusted monthly hours worked in all jobs went the other way, decreasing by 0.2 per cent. Main picture: BRENDAN RADKE

ON BOARD: Chinese tourists Yingwen Jin and Yidie Xu take some holiday photos at the Cairns Marlin Marina, boosting tourism in Far North Queensland; and (left) paying with Alipay.