Unemployment surprise: Official data shows drop to 5.3%

Australia’s unemployment rate has taken a surprise 0.3 per cent dip to hit a seasonally adjusted 5.3 per cent, according to the Australian Bureau of Statistics (ABS) April figures.

The number of people employed full-time increased by 49,100 to reach 7.6 million, while part-time employment dropped by 21,800 to 3.1 million. The total number of employed reached 10.8 million nationally.

While the number of unemployed decreased by 35,300, there are still over 600,000 Australians out of work.

Women fared better than men in April, with the female unemployment rate dropping by 0.4 points to 5.3 per cent. The male unemployment rate fell by only 0.2 points to 5.5 per cent. The ABS figures are in sharp contrast to the results of the latest Olivier Job Index, which showed job ads across the economy fell 7.43 per cent in April for a 12 month drop of 49.84 per cent. The Olivier Job Index also showed the IT job market continued its horror slide in April with Internet ads falling 7.44 per cent to reach a 12 month crash of 56.05 per cent.

Olivier Group director, Robert Olivier, said that while the rate of decline had fallen – in March the IT job market fell 15 per cent – there was no reason to expect an improvement in the short term.

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