Australia's labor market adds 12,000 jobs in May, according to the National Bureau of Statistics, missing expectations for an increase of 19,000, while the previous reading was revised from 22.6 to 18.4 thousand.
The total number of employed during the period reached 12.51 million, thus reaching at the highest level on record. The numbers of full-time workers fell by 20.6 thousands to 8,521,400 while the number of part-time workers increased by 32.6 thousand to 3996,900.
On the other hand, the unemployment rate fell from 5.6% to 5.4% to settle near its six-month low. The decline in unemployment may be due to the decline in participation rates, which fell from 65.7% to 65.5%, the number of unemployed workers fall by 26,800 to 714,600.
