Global Power | Local Knowledge | Uniquely Personal
中文

Economic Trends

Western Australia's econcomy continues to lead the way supporting the strong property market currently experienced. Riding the back of the minerals boom and increasing investment and migration, the market looks set to continue to its pace in the immediate future.

Western Australia's unemployment rate decreased from 4.2 per cent to 4.1 per cent between February and March 2006. This saw WA maintain the lowest rate of unemployment of all states for the eighth consecutive month. The number of unemployed persons in WA decreased by 2.1 per cent (or 1,000 persons) between February and March, while employment increased by 0.8 per cent (or 8,000) to 1.07 million. Employment in WA is up by 3.4 per cent over the year to March, with full-time employment up by 3.2 per cent over this period, while part-time employment is up by 3.7 per cent. The participation rate in WA reached a new record high in March, with 68.1 per cent of the state's adult population engaged in the labour force during the month.

Nationally, the unemployment rate decreased from 5.2 per cent to 5.0 per cent between February and March 2006. The number of unemployed persons decreased by 3.5 per cent (or 19,200) between February and March, while employment increased by 0.3 per cent (or 27,100) to 10.1 million. National employment is up by 1.5 per cent over the year to March. Queensland recorded the strongest jobs growth in March with 14,900 new positions, followed by Western Australia (8,000). The national participation rate remained unchanged at 64.4 per cent in March, close to its record high of 64.5 per cent.

Data Summary
Rate In:
Unemployment Rates Period Mar 06 Feb 06 Mar 05
Western Australia Mar 06 4.1% 4.2% 5.0%
Australia Mar 06 5.0% 5.2% 5.2%
% Change Since:
Employment Period Number Feb 06 Mar 05
Western Australia Mar 06 1,065,900 0.8% 3.4%

Australia 

Mar 06 10,085,300 0.3% 1.5%

DISCLAIMER: All information provided is of a general nature only and does not take into account your personal financial circumstances or objectives. Before making a decision on the basis of this material, you need to consider, with or without the assistance of a financial adviser, whether the material is appropriate in light of your individual needs and circumstances. This information does not constitute a recommendation to invest in or take out any of the products or services provided by SMATS Services (Australia) Pty Ltd or Australasian Taxation Services Pty Ltd.

COPYRIGHT: All information provided is protected by international copyright laws. You may not copy, reproduce, distribute, publish, display, perform, modify, create derivative works, transmit, or in any way exploit any such content, nor may you distribute any part of this content over any network. Copying or storing any content is expressly prohibited without prior written permission of SMATS Group or the copyright holder identified in the individual content's copyright notice. For permission to use the content on please contact info@smats.net.

Subscribe Now