Full-time jobs down, part-time up; Property sector confidence on the up: Midday Roundup

Australia’s unemployment rate held at 5.8% for December, according to new figures released by the Australian Bureau of Statistics today.

The total number of jobs in Australia fell by 22,600 for the month, reaching 11.63 million (seasonally adjusted). In November, the figure was 11.65 million.

Full-time employment dropped by 31,600 to 8,067,700. Part-time employment was up 9000 to 3,561,800.

Property sector confidence on the up

The property industry is more confident than ever, as the sector expects to benefit from strong house price growth.

The latest index from the Property Council and ANZ shows property industry confidence has climbed eight points since December, hitting 140 on the index.

The quarterly report found the residential property sector was likely to do best in the March quarter, although all asset classes were tipped to rise.

Momentum in the property market is expected to remain strong in Sydney, Melbourne, Brisbane and Perth.

The commercial property sector also improved in the March sector, with construction expectations strengthening.

Shares up

Australian shares were up this morning, with the S&P/ASX200 benchmark up 36.9 points to 5285 at 12.16pm EST. Last night the Dow Jones closed at 16,481, up 0.66% or 108.08 points.

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