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Labour force - September 2002



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THE HON TONY ABBOTT MP

MINISTER FOR EMPLOYMENT AND WORKPLACE RELATIONS

 

Media Release

07402

Labour Force - September 2002

The seasonally adjusted unemployment rate remained unchanged at 6.2 per cent in September 2002.

Total employment declined by 30,700. However, full-time employment increased by 11,700, following a rise of 87,700 last month, and now stands at a record high of 6,734,400. Part-time employment fell by 42,400. In trend terms, employment has now been increasing for 21 consecutive months and is also at a record high.

Seasonally adjusted unemployment fell by 5,600 in September 2002 and is now 45,500 lower than 12 months ago. Trend unemployment is at its lowest level since December 2000.

The participation rate fell by 0.3 percentage points to 63.5 per cent following a rise of 0.5 percentage points last month.

The seasonally adjusted teenage full-time unemployment rate fell by 0.9 percentage points to 21.4 per cent while the teenage full-time unemployment to population ratio fell by 0.2 percentage points to 4.4 per cent.

The fall in total employment this month was in line with market expectations and was not unexpected given the typical volatility in the monthly series and the very strong growth recorded in August.

Leading indicators of labour market activity have strengthened recently. The ANZ job advertisement series rose by 3.2 per cent in September while the Department of Employment and Workplace Relations’ Leading Indicator of Employment has risen for 16 consecutive months since its trough in June 2001.

Despite the continued uncertainty in the international economy and the negative impact of the drought domestically, employment growth has averaged more than 10,000 per month since mid 2002.

Today’s figures, coupled with the strength in the various leading indicators, point to a continuation of solid growth in employment in the months ahead.

September Employment Update

 

For further information contact:

Simone Holzapfel  0417 656 668 10/10/2002

 

All figures are in seasonally adjusted terms ALP’s last two terms in

Government

Coalition Government

Comments

March 1996 to

September 2002

Total Jobs Growth 459,000 1,014,800

Full time 56,700 465,600

Part time 402,300 549,200

Male 114,100 480,500

Female 345,000 534,300

Jobs per month 6,400 13,000

Average Annual Jobs Growth 76,500 156,100

Annual % Jobs Growth 0.9% 1.8%

Unemployed 934,000 617,100

(Peak Dec’92) (latest)

Unemployment Rate (%) 10.9 6.2

(Peak Dec’92) (latest)

Participation Rate Period Averages 63.2 63.4

Latest 63.5 63.5

(March '96)

Teenage Full Time Unemployment Unemployed (‘000) 133,300 59,700

(Peak Jul’92) (latest)

Unemployment Rate (%) 34.5 21.4

(Peak Jul’92) (latest)

Unemployment to Population 10.1 4.4

Ratio (Peak Jul’92) (latest)

Less than 1 in 20 teenagers are unemployed and looking for full-time work (compared with around 1 in 10 under Labor)

Since the Government was elected, unemployment has fallen by 122,700 (or 16.6 per cent).

The unemployment rate has fallen by 2.0 percentage points since the Government was elected.

The number of teenagers unemployed on a full-time basis has fallen by 28,600 (or 32.4 per cent) since the Coalition came to office.

The average labour force participation rate has been higher under the Coalition than under Labor.

NATIONAL EMPLOYMENT UPDATE

Coalition Government Jobs Performance

September, 2002

More than one million jobs have been created since the Coalition came to office.

The number of jobs created per month has been more than double that recorded during Labor's last two terms in government.

(March 1990-March 1996)

Full-time employment growth has been much stronger under the Coalition than under Labor.

Male and female employment growth has been stronger under the Coalition than under Labor.