Jobless rate increases to 5.8 percent

Australia's unemployment rate hit 5.8 percent in October, while Queensland's job growth pointed to recovery

November 12, 2009

Australia’s unemployment rate edged up last month to hit 5.8 percent, while Queensland pulled through with a 0.3 percent decrease, according to the latest labour force figures released today by the Australian Bureau of Statistics.

According to the ABS, the number of people employed nationally increased by 24,500 to 10.8 million in October.

The rise in employment was driven by an increase in part-time employment, up 21,500 to 3.2 million, with full-time employment increasing 2,900 to 7.6 million persons.

The number of people unemployed increased by 11,100 in October, standing at 670,100, the highest level since January 2002.

In Queensland, the unemployment rate dropped from 6.3 percent in September to 6 percent in October.

Treasurer Andrew Fraser says despite disappointing national figures, 1,900 jobs were created in Queensland in October, following the 600 jobs created in September.

"The global financial crisis has presented Queensland with significant employment challenges, but we have seen some good news over the last two months," Fraser says.

He says the creation of almost 2,000 jobs in October is a positive sign for the economy, and means business confidence is returning.

"We're not there yet, but two months of consecutive jobs growth should be a welcome result for all Queenslanders."

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