National unemployment rate down, SA rate up

Submitted 11/12/2009

AAP

 

Australia's unemployment rate has surprisingly fallen, adding to signs that the worst of the economic downturn has passed and raising the prospects of more interest rate rises. The country's jobless rate fell to 5.7 per cent last month, from 5.8 per cent in October, the Australian Bureau of Statistics said today. South Australia's rate, however, jumped 0.2 per cent in November to 5.5 per cent from 5.3 per cent in October. SA also recorded the highest youth unemployment rate in the country. Acting State Employment, Training and Further Education Minister Paul Caica says despite unemployment figures increasing, there are more South Australians in jobs than ever before, "The November figures show that the total number of people employed in SA in trend terms rose by 1000 to a record high of 794,000" he said in a statement today. Mr Caica also said the SA unemployment rate, despite rising, is still below the national average. The data released today supports the argument that - after increases of a quarter of a percentage point in October, November and December - there should be another in February, bringing the cash rate to 4 per cent.