Latest data shows more people in work and unemployment falling
There is good and bad news on the jobs front in September with the release of the latest seasonally adjusted data from the Australian Bureau of Statistics.
Employment in September was up 19,800 and the unemployment rate fell to 5.5 per cent, however, despite the stronger than expected results, an analysis of the figures from economist Pete Faulkner from Conus Business Consultancy shows it was the weakest growth in the past seven months.
"Employment growth in August was revised sharply stronger to an increase of 53,000 (originally) 27,100," he said.
"In September, full-time employment was up 6,100 while the Participation Rate remained unchanged at 65.2 (after August was revised down slightly).
"Trend employment is now growing at 2.8 per cent year on year."
It was a mixed bag of results in Queensland, with the ABS figures showing employment fell 4,400 (although full-time employment was up 3,000) and the unemployment rate went up to 5.9 per cent (from 5.7 per cent in August).
"However, the Trend series (less volatile and preferred as an indicator) had employment up 7,500 (the weakest month of growth this year) and the unemployment rate dropping slightly to 5.9 per cent from 6 per cent," he said.
"Trend employment growth in Queensland now sits at a healthy 4.1 per cent year on year."
Regional jobs data will be released next Thursday.
The full set of Conus trends is available by clicking here.