Job surge shows strength but Australia's unemployment rate is climbing

Marco Green
January 18, 2018

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.

The Massachusetts unemployment rate now stands six-tenths of a point lower than the national unemployment rate of 4.1 percent, as reported by the Bureau of Labor Statistics. "That's a ideal recipe for producing a healthy labor market".

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 rate was down 0.2 percentage points from November. Similarly, November job gains were revised upward from 9,800 to 11,100 jobs.

"Full-time employment has now increased by around 322,000 persons since December 2016, and makes up the majority of the 393,000 net increase in employment over the period", said ABS chief economist Bruce Hockman.

The growth continued to rise for the 15th consecutive month with trend employment increasing by 3.3 per cent, according to the latest Australian Bureau of Statistics (ABS) data.

In-fact, 2017 was the first year where the number of jobs increased every single month of the year.

In the past 12 months, more than 400,000 new jobs have been added.

A steady pick-up in business sentiment has helped an acceleration in job creation over the past year.

In the services-producing sector, employment grew in a number of industries, led by transportation and warehousing (6.3 per cent); finance, insurance, real estate, rental and leasing (4.6 per cent); and professional, scientific and technical services (3.8 per cent).

However, wages growth remains a key concern for decision-makers and has proven a drag on consumer spending.

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

Other reports by Click Lancashire

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