Thread: Australia's economy sheds more full time jobs

According to the latest data by the Australian Bureau of Statistics, Australia's jobs market reversal has continued as it reported weaker-than-expected numbers for the month of May with 22,000 full-time jobs being shed.

This is the second consecutive month that the economy has seen a decline in full-time employment.

However, the number was offset by an increase of 29,800 in part-time employment, keeping the unemployment rate steady at 4.9%.

"It's a disappointing report, particularly the fall in full-time jobs," said Brian Redican of Macquarie bank. "Employment has been very lacklustre for a number of months now, and suggests the economy hit a turning point in the first half of 2011," he added.

I think you will see this trend in most Western economies, I have seen it mentioned a few times elsewhere that most of the jobs being created in the UK are part time or temporary, it is clear that both countries are following the same trend. With the economy in many sectors on a bit of a knife edge it isnt surprising to hear that emploers are being very careful with their money.