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Unemployment rate decreases from 6.1 % to 6 % in Australia

Unemployment rate decreases from 6.1 % to 6 % in Australia

Jun 12,2015

According to Bureau of Statistics report, it has been calculated that regular jobs have increased by around 14,700, whereas the part-time jobs have increased by around 27,300. The increase in generation of the jobs has led to the fall of the unemployment rate to 6% from 6.1%.

As stated by Bloomberg economists, it was expected that around 15, 000 jobs will be added and the unemployment rate to be at a steady level of at around 6.2%. The study also reveals that 64.7 % of people above the age group of 15 looking for the jobs will be intact. Also, the working hours per month has increased to around 0.1%. 

Asia-Pacific region's chief economist Mr Annette Beacher is of the view that the rate of growth in part-time jobs will lead to insecurity in the jobs and will pose a problem in creating more number of jobs. As such, all the things have to be considered before zeroing in on the number of jobs generated. Education minister Mr Christopher Pyne avers that further actions are being taken to lower the unemployment rate and several growth packages and jobs packages are in offing in the coming budget to create additional jobs.

US based Banking & Financial major JP Morgan's chief economist Mr Stephen Walters sees a positive sign in the growth of employment rate. He said that although the employment rate has been more in the part- time jobs, he feels that there has been a solid increase in regular employment too. Nonetheless, it’s good that there is study growth of jobs on a monthly basis and even the working hours have increased to a considerable extent. 

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