This had been a key factor in keeping the jobless

This had been a key factor in keeping the jobless rate below 6 per cent, economists said.
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“The jobs data is not good,” AMP Capital Investors chief economist Shane Oliver said.

“If the participation rate had remained at its 2011 average, the unemployment rate would now be running at around 6.8 per cent.

“The weakness in the labour market is highlighted by a continuing switching in jobs from full-time to part time as companies seek to contain costs.”

Employment rose by only 1100 positions in October, largely due to a lift in part-time jobs. Citi economist Josh Williamson said the jobs figures had taken the shine of the recent strong economic data.
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“Employment growth has slowed to a crawl,” Mr Williamson said.

“People in the labour force have a preference for full-time work, but employers are not yet prepared to provide more than part-time work.

“The participation rate of 64.8 per cent is still flattering the unemployment rate, which we expect to hit 6 per cent by the end of the year.”

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