Job surge leaves unemployment rate steady

By online business reporter Michael Janda

Posted July 7, 2011 11:38:00

59,000 extra full-time jobs were created in June (ABC News: Giulio Saggin, file photo)

A surge in full-time employment in June has made up for much of the falls of previous months, and left unemployment steady at 4.9 per cent.

The Bureau of Statistics figures showed 59,000 extra full-time jobs in June, while part-time employment eased by 35,600.

That left the overall number of jobs created at 23,400, seasonally adjusted, which exceeded most economists' forecasts.

The average forecast from the 25 economists surveyed by Bloomberg was for a 15,000-strong increase in employment, leaving unemployment at 4.9 per cent.

The Australian dollar jumped from 107 US cents to107.4 US cents shortly after the release.

More to come.

Tags: business-economics-and-finance, economic-trends, unemployment, work, international-financial-crisis, money-and-monetary-policy, australia

Source: http://www.abc.net.au/news/stories/2011/07/07/3263436.htm

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