Economic Buzz: Australia Unemployment Rate Slows To 5.4% In May

Australia unemployment rate came in at a seasonally adjusted 5.4 percent in May, the Australian Bureau of Statistics said on Thursday, down from 5.6 percent in April. The Australian economy added 12,000 jobs last month to 12,518,300 following the addition of 22,600 a month earlier. Full-time employment decreased 20,600 to 8,521,400 and part-time employment increased 32,600 to 3,996,900. The participation rate dipped to 65.5 percent, below expectations for 65.6 percent and down from 65.7 percent in April.