Australia's Unemployment Decreases to 5.1% in August

Australia's seasonally adjusted unemployment rate decreased 0.1 percentage point to 5.1 per cent in August, as announced by the Australian Bureau of Statistics (ABS) on September 6th., ABS 9/6/2012 9:42:35 AM

The ABS reported the number of people employed decreased by 8,800 to 11,498,100 in August. The decrease in employment was driven by decreased part-time employment, down 9,300 people to 3,426,700. Male part-time employment was down 8,400 people. Full-time employment increased by 600 people to 8,071,400.

The number of people unemployed decreased by 10,600 people to 622,600 in August, the ABS reported.

The ABS monthly aggregate hours worked series showed a decrease in August, down 5.7 million hours to 1,618.8 million hours.

The ABS reported a seasonally adjusted labour force participation rate decrease of 0.2 percentage points to 65.0 per cent in August.

The seasonally adjusted underemployment rate was 7.2 per cent in August 2012. Combined with the unemployment rate of 5.1 per cent, the latest estimate of total seasonally adjusted labour force underutilisation was 12.4 per cent in August.