Unemployment falls to 5.5% in May

http://www.theaustralian.com.au/business/economics/unemployment-falls-to-55pc-in-may-as-figures-beat-expectations/news-story/5ede0c480628e1a16a6d0275c3afab26

  • Australia’s unemployment rate dropped to a four-year low in May to a lower than expected seasonally adjusted 5.5% from 5.7% in April
  • Lowest jobless rate since February 2013
  • Seasonally adjusted workforce participation rate rose to 64.9% in May from 64.8% n April
  • Supports view that there is an underlying strength in the economy despite slowest annual GDP Growth since 2009
  • WA recorded the biggest uptake in new jobs; its unemployment rate dropped to 5.5%, down from 5.9% in April
  • More women without jobs in WA with an unemployment rate of 5.8% compared to 5.3% of men.
  • Labour force underutilisation rate decreased 0.1 points to 8.8%.
  • The underutilization rate decreased 0.4 points to 14.4 percent.
  • Job vacancies rose 1.7% in the three months to May, the majority of which are in the private sector
  • Private sector vacancies rose 1.5% to 170,500, and public sector vacancies rose 3.2% to 18,700
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