Job market surges

Australia’s job market surged last month.

The Australian Bureau of Statistics reports that 52,700 Australians found jobs in January – and the number unemployed fell by 22,300.

This meant that the nation’s unemployment fell from 5.5 per cent in December to 5.3 per cent in January.

The nation’s critically important work force participation rate held steady at 65.3 per cent.

These are all seasonally adjusted figures.

Many of those who got jobs in January, though, had to be content with part time work.

The Bureau reported that part time employment increased by 36,900 during the month, while full time employment rose by just 15,900.

Even so, the figures were better than many economists had expected.

The bureau also reported that the number of Australians seeking full time work fell by 17,900 during the month, while the number looking for part time work fell by 4,400.