Unemployment jumped 0.5 percentage points in August to a seasonally adjusted 5.9 per cent in Western Australia, according to the Australian Bureau of Statistics.
Unemployment jumped 0.5 percentage points in August to a seasonally adjusted 5.9 per cent in Western Australia, according to the Australian Bureau of Statistics.
Unemployment jumped 0.5 percentage points in August to a seasonally adjusted 5.9 per cent in Western Australia, according to the Australian Bureau of Statistics.
The numbers were partly driven by an increase in labour force numbers of 7,300, which includes those looking for work and in jobs.
Labour force participation, the percentage of working age people who are in the labour force, as opposed to university or home making, grew from 67.7 per cent to 68 per cent, seasonally adjusted.
But the number of people employed fell slightly, by 100, to 1.363 million, seasonally adjusted.
Making interpretation even more complicated, trend unemployment, a different statistical measure, actually fell, from 5.6 per cent to 5.5 per cent.
Nationally, full-time employment grew by 22,000 people in trend terms in August, while the unemployment rate remained at 5.6 per cent seasonally adjusted.
Commsec chief economist Craig James said a quarter of a million jobs had been created in the past six months.
“For a six-month period, you have to go back 17 years to find a stronger result,” he said.
“The economy is clearly gathering momentum. More jobs means more spending.
“More jobs should lead to more confident consumers. More jobs suggests higher wages down the track.
“The job market is in good shape and all the leading indicators expect it to stay that way.
“Hopefully Aussie consumers will start feeling a little more confident about the economy and their finances.
“It doesn’t help when some in the media believe that the only story on the economy is a bad news story.
“Wealth is at record highs, as are profits, jobs are being created, inflation is contained and interest rates are at record lows.”