But the headline unemployment figure of 5.72% – the lowest in nearly three years – masked the growing trend towards part-time working as the economy transitions from the investment-driven mining boom to a service-focused base. The number of people in full-time work fell 45,400, while those in part-time work rose 71,600.
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Australia’s unemployment rate has fallen to a three-year low after the number of people in work rose a greater than expected 26,200 in July.
The state said Wednesday it’s the lowest rate since January 2001’s 4.4 percent, but officials say it corresponds with a significant drop in labor force and employment levels.
“The softer results across the labour market mirror other indicators across the economy, including retail sales”, he said.
The Reserve Bank of Australia is expected to be pleased by the drop in the jobless rate that has alternated between 5.7 percent and 5.8 percent for almost all of 2016. Manufacturing was the only sector to report job losses. That can help drive down the unemployment rate. It would be more like the Seattle area.
Washington state’s above-average unemployment rate hasn’t budged since last December.
“Put that together with moderate or slower job creation and we’re just not getting enough to lower the unemployment rate”, Turek said.
The state’s civilian labor force – meaning those ages 16 and older who are working or actively looking for work – remained virtually the same as in June at about 3.62 million people.
Manufacturing faced the biggest reduction, losing 2,100 jobs. In the Seattle/Bellevue/Everett region, the labor force dropped by 1,300 over the same period.
Over the past year, the state added 100,000 jobs total.
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Numerous jobs that are being created are in the services sector, which is driving economic growth following a retreat in the Australian dollar over recent years.
