Australia’s unemployment rate 2013 has climbed to a post-global financial crisis high of 5.8%

ltunemploy3Australia’s Unemployment Rate climbing

Australia’s unemployment rate has been rising since November last year.

Australia’s unemployment rate has climbed to a post-global financial crisis high of 5.8 per cent, in line with economists’ forecasts.

The figures from the Australian Bureau of Statistics show the jobless rate edged up by 0.1 per cent in August.

Full-time jobs fell by 2,600, while 8,200 part-time jobs were lost.

But there was an increase in the total number of hours worked during the month. It increased by 1.1 million hours to 1.65 billion hours.

Youth unemployment climbed to 17.3 per cent, its highest level since October 2010.

Unemployment has been rising since November last year, and is now just 0.1 per cent below the peak seen during the depths of the global financial crisis four years ago.

The participation rate, which measures the number of people working or looking work, fell by 0.1 per cent to a near seven-year low of 65 per cent.

Read More Pat McGrath, ABC News , Updated Thu 12 Sep 2013, 7:28pm AEST

Internet Vacancy Index  (Job Advertisements), job advertising weak

Over the year to July 2013 the Internet Vacancy Index (IVI)  has fallen by 17.3%, and is now 57.1% below the March 2008 peak, indicating that the level of job advertising remains weak.

The IVI declined in all states and territories over the year, with the strongest decline recorded in Western Australia (down by 36.1%), followed by Queensland (26.8%).

Over the month to July 2013, the IVI increased by 0.7% in trend terms.

The Regional IVI (three month moving average) declined in all of the 38 regions over the year to 2013, with the strongest falls recorded in South West WA (down by 49.2%) and Goldfields & Southern WA (49.0%).

Read More on  www.rcsa.com.au

Unemployment Rates and the measurement of job  advertising will be discussed at an upcoming conference on Long Term Unemployment

LTU-LogoLong-Term Unemployment Conference 2014

A national conferencve focusing on at risk groups for Long-Term Unemployment | Mature Age | Youth | Indigenous | Disability | Regional |

18-19 August 2014, QT Hotel Surfers Paradise

URL: www.longtermunemployment.org.au  Ph: (61 7) 5502 2068

An initiative of the Australian and New Zealand Mental Health Association

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