Labour force figures for October
- Minister for Employment, Skills, Small and Family Business
The Government notes that the labour force figures released today by the ABS show that the unemployment rate has risen from 5.2 per cent to 5.3 per cent.
Whilst jobs figures change from month to month, the change in unemployment follows the strong consecutive increases in job numbers that have been recorded over an extended period.
Over the year to October 2019, employment has risen by 251,800 (or 2.0 per cent), above the decade average growth rate of 1.8 per cent.
Seasonally adjusted full-time employment fell by 10,300 in October but is 135,700 (or 1.6 per cent) higher than it was a year ago.
Full-time employment has comprised 53.9 per cent of total employment growth over the last year.
Part-time employment fell by 8,700 in October but is 116,100 (or 2.9 per cent) higher than it was a year ago.
While the participation rate fell by 0.1 percentage points to 66.0 per cent in October 2019, it is 0.4 percentage points higher than it was a year ago.
The Minister for Employment, Skills, Small and Family Business, Senator the Hon Michaelia Cash, noted that while the labour force figures can jump around from month-to-month, a total of 1,442,500 jobs had been created since the Government came to office, an increase of 12.6 per cent.
“The Morrison Government’s strong Budget position is facilitating a record infrastructure spend, which will help create tens of thousands of jobs across the country. In addition, the most significant tax cuts Australia has seen in more than two decades is putting an extra $20 billion into Australian taxpayers’ pockets and the Government also has a plan to create 80,000 apprenticeships,” Minister Cash said.
Today’s data continue to reflect a solid labour market and highlight the success of the Government’s efforts to stimulate ongoing, sustainable jobs growth, even in the face of significant global and domestic headwinds.