Fed: Unemployment down for very long term unemployed

AAP General News (Australia)
12-15-2000
Fed: Unemployment down for very long term unemployed

CANBERRA, Dec 15 AAP - Unemployment is worsening, but the latest figures indicate some
hope for those who have been out of work for a very long time.

The number of people out of work for more than two years hit a nine-year low in November.

Employment Minister Peter Reith said the number of people out of work for more than
12 months also fell - to 4,200 in November, seasonally adjusted.

The number of very long-term unemployed - those out of work for more than two years
- also fell 300 to 95,700, the lowest number since November 1991.

"It is clear that the government's policies are assisting even the most disadvantaged
in the labour market," Mr Reith said.

But other employment figures are less positive.

The Department of Employment, Workplace Relations and Small Business (DEWRSB) leading
indicator of employment fell for the ninth month in a row in October to its lowest level
in three years.

Job growth is expected to continue to slow, even if unemployment stays at current levels,
which are the worst since the last recession.

The rise in unemployment was largely due to the continuing slump in the housing industry,
with building approvals down almost 40 per cent for the year.

Nearly 100,000 jobs have been shed and the jobless rate rose last month from 6.3 to 6.6 per cent.

AAP kjp/apm/br

KEYWORD: ECONOMY DAYLEAD

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