WA jobless rate jumps in November

Thursday, 11 December, 2008 - 09:52
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Western Australia has led the national job decline in November with the unemployment rate jumping up to 3 per cent seasonally adjusted, while economists are tipping the national jobless rate to rise to 5.5 per cent within a year.

Latest data from the Australian Bureau of Statistics showed WA's jobless rate returned to levels reached in September before it dived to a record low of 2.3 per cent, seasonally adjusted, in October.

Nationally, the unemployment rate edged up from 4.3 per cent to 4.4 per cent in seasonally adjusted terms.

CommSec economist Savanth Sebastian said the job losses were concentrated in WA with employment down by 13,800 in November.

Tasmania shed 4700 jobs followed by Victoria with 3600 and New South Wales with 2100.

However, NSW had the highest unemployment rate with 5.2 per cent.

"There is no doubt that 2009 will be a tough year in terms of the global environment," Mr Sebastian said.

"Firms are likely to be taking on more part-time staff in an attempt to maintain a more flexible workforce and control costs.

"As such CommSec expects the unemployment rate to rise to 5.5 per cent in a year's time."

Economists had expected a 15,000 drop in total jobs and an unemployment rate of 4.5 per cent.

The government has forecast the jobless rate to rise to 5.0 per cent by June next year.

The monthly labour force data comes after the world's second biggest miner Rio Tinto said it would be slashing its worldwide workforce by 14,000, including 5,500 full-time jobs.

It has yet to specify how many Australian jobs will go.