Strength of Economy Supported by Latest Jobless Figures

The economy has once again defied gloomy forecasts by posting a decrease in the national unemployment rate for the first time since February this year.

Jobless figures released by the Australian Bureau of Statistics show the national unemployment rate fell from a 10 month high to 5.2% in September 2011. 20,400 jobs were added to the economy in September, more than double what economists were predicting.

The figures also show that Western Australia has again managed to retain its title of the lowest unemployment rate of all states, with the rate falling to just 4.3% for September.  Almost 14,000 extra full-time jobs were created and the total number of females in full-time work grew by almost 10,000. Experts are anticipating that WA’s unemployment rate will fall below 4.0% by next year courtesy of the burgeoning resources sector.

Some other states didn’t fare so well. In New South Wales, the jobless rate rose to 5.5%, Victoria rose to 5.3% and South Australia also rose to 5.6%.

Australia continues to do well in relation to many other developed nations around the world. In comparison, Britain’s unemployment rate stands at 8.1% for September, up from 7.9%.

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