Jobs growth surprises economist

The employment market is continuing to show growing strength with a raft of positive figures released this week.

The Australian Bureau of Statistics announced that the number of new full time jobs grew in September despite the fact the official unemployment rate of 5.1 per cent was a repeat of the August result.

Employment rose by 49,500 in September surprising economists who had predicted an increase of about 20,000 jobs.

Around Australia the unemployment rates in September were:

• Northern Territory 3.1 per cent (three per cent)
• ACT three per cent (3.1 per cent).
• Western Australia 4.6 per cent (4.5 per cent)
• NSW 5.2 per cent (5.0 per cent in August)
• Queensland 5.3 per cent (5.4 per cent)
• South Australia 5.5 per cent (5.4 per cent)
• Victoria 5.3 per cent (5.5 per cent)
• Tasmania 5.4 per cent (six per cent)
• Meanwhile, the Advantage Job Index recorded an increase in online job ads of 3.29 per cent in September, which followed a 2.81 per cent rise in August.

Overall, the Advantage Job Index is now 25.2 per cent above job ad number this time last year, 8.78 per cent higher than six months ago and 4.82 higher over the quarter.

 Article from CareerOne.com.au October 7, 2010.