- The unemployment rate bounced up to 9.4% from 7.7% last month. This is somewhat above the trend of recent months.
- Employment estimate was up by 3,200 to 135,600 although the trend remains stalled.
- At 14,100 the number of persons estimated unemployed were also up by 3,100.
- The participation rate bounced back to a more 'normal' 66.1% from last months record low.
Any bounce in the Participation Rate in coming months to a more "normal" level would be reflected in a sharp spike in the unemployment rate, barring some very robust employment growth at the same time.The stalled employment trend remains a concern and particularly the recovery apparent in female employment throughout 2012 appears to have rolled over again on the conservative 12 month moving average:
Note: Trend line is 12 month moving average
Update: Seasonally adjusted and trend analysis and commentary from Conus: Participation Rate rebound pushes unemployment rate higher in FNQ:
"Our Trend series is showing 7,000 fewer in work than in Jan this year .........."