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Unemployment jumps to 5.7 percent

Unemployment has jumped back to 5.7 percent in May, as predicted by economists after it dropped to 5.4 percent in April.

According to the Australian Bureau of Statistics, 1,700 people lost their jobs in May, equating to a total of 655,000 Australians out of a job.

In a clear sign that businesses are looking to reduce staff hours, rather than making staff redundant, the number of part-time workers jumped by 24,500.

On a state basis, NSW currently holds the highest jobless rate, as unemployment rose from 6.1 percent in April to 6.4 percent; while ACT the nation’s capital, continues to have the lowest official unemployment rate at 3.3 percent, up 0.2 percent from April.

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Jessica Stanic

Jessica Stanic

Jessica has a background in both marketing and journalism and is dedicated to making the website the leading online resource for small to medium businesses with ambitions to grow.

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