Sunday, 21 October, 2018

Slight Rise in Unemployment Rate

Slight Rise in Unemployment Rate Slight Rise in Unemployment Rate
Russell Knight | 18 January, 2018, 18:27

The national unemployment rate was 4.1 percent in December.

State officials say Wisconsin's unemployment rate has never been below 3 percent, and that it's never been that low for the month of December.

The market faces a tough ask maintaining the extraordinary rate of job creation, with the near 400,000 lift in 2017 unlikely to be recreated this year, as the size of Australia's economy naturally constrains growth.

That increase of the past year equates to a 3.3 per cent rise in employment - nearly double the year-on-year average over the last 20 years of 1.9 per cent.

That includes an increase in the number of full- and part-time positions.

"These figures should not provide, unfortunately, sufficient confidence that we're going to see better days for 1.8 million Australians, who are either underemployed or unemployed", said Labor's employment spokesman Brendan O'Connor.

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The state added 2,300 people to the labor force and 9,200 more people found jobs.

The department also announced that November's previously announced unemployment rate of 4.5 percent was revised downward to 4.4 percent - a new low for unemployment in Washington.

Minister for Jobs and Innovation Michaelia Cash said the Turnbull government was investing in getting more Australians into work.

The unemployment rate rose to 5.5% after being at 5.4% for the last three months due to an increase in the participation rate. Employment increases in natural resources in 2017 followed heavy losses recorded over the previous two years (-6.4 per cent in 2015 and -7.3 per cent in 2016).

Over the year, the state's unemployment rate increased four-tenths of a percentage point from 3.1 percent in December 2016 but employers also added 63,000 jobs in 2017.

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