Aussie Dollar Skids as Australia’s Jobless Marginally Rises to 5.2% in June

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By Esther Tanquintic-Misa | July 12, 2012 1:51 PM EST

Australia's unemployed has grown by 0.1 percentage points to 5.2% in June, as the number of people with jobs declined by 27,000 to 11,500,500 in the sixth month of the year, latest figures released Thursday by the Australian Bureau of Statistics (ABS) revealed.

Reuters
Men looking for labor jobs stand along a street in Brooklyn, New York on April 3, 2012.

The Australian dollar, at 1200 AEST, dropped at 101.93 US cents immediately after the figures were released.

The growth rate, according to ABS, was in line with expectations.

The unemployment uptick in June was triggered by the decreased full-time employment, which affected 33,500 people to slide to an overall 8,065,500 figure.

Ultimately, the number of people unemployed in June jumped by 7,200 people to 631,300, the ABS data showed.

Before ABS released the jobs data, the Australian dollar was trading above 102 cents.

South Australia contributed the largest number to the latest unemployment figures, jumping to 6.4 per cent in June from 5.2 per cent a month ago. Tasmania seconded, to 7.4 per cent from 6.5 per cent previously.

Of the larger states, NSW's jobless rate grew to 5.1 per cent from 5.0 per cent and Victoria, to 5.5 per cent from 5.4 per cent.

Same also with the Northern Territory where the jobless soared to 4.2 per cent from 4.1 per cent. The ACT was unchanged at 3.6 per cent.

It was different, however, in Western Australia where the number of people unemployed dropped to 3.5 per cent from 3.8 per cent; also with Queensland, to 5.3 per cent from 5.7 per cent.

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(Photo: Reuters / Eduardo Munoz)
Men looking for labor jobs stand along a street in Brooklyn, New York on April 3, 2012.
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