Australia?s labor market has risen to 6%, the highest level since 2003. In January, 7,100 full-time positions were lost and almost half as many part-time jobs were added signaling a shift in both total employment and full-time employment down. Unlike in the U.S., however, the labor force participation rate remained steady at 64.5%. The jobs report continues to edge downward because businesses are increasingly uncertain about the future of the Australian economy and have been trimming existing workforces in the country without adding new positions. Officials in Australia expect the trend to continue for another six months or so.
See "Unemployment rate worst in 10 years", Glenda Kwek, The Sydney Morning Herald, February 12, 2014