Employment Figures In Australia Show Significant Improvement

09 May 2013

Jobless rate has dropped to 5.5 per cent because the number of new jobs rose by a surprising 50,100 in April.

Economists thought that the unemployment rate remains at 5.6 per cent, with 11,000 new jobs created.

But people in full-time employment rose by 34,500 and part-time workers by 15,600.

Across the territories and states, the unemployment rates for individuals were mixed.

There is a fall in jobless rate to 5.3% in NSW, from 5.5 per cent, and a drop in Queensland to 5.6 per cent, from 5.9 per cent.

There is also a decline in South Australia to 5.7 per cent, from 5.8%.

In Victoria it increased to 5.8%, from 5.7%, and in Western Australia jumped to 5.2 per cent, from 4.8%, and in Tasmania rose to 7.5 per cent, from 7.3 per cent.

In the Northern Territory unemployment increased to 4.5 per cent, from 4.4 per cent, but remained same at 4.6 per cent in the ACT.

To encourage sustainable growth in the economy, the Reserve Bank of Australia cut its cash interest rate this week to a historic low of 2.75%.