Unemployment took a hit in September, as the end of Ramadhan meant more people looking for work, but not quite enough jobs to go around (‘000):
The unadjusted employment numbers were slightly negative, though not by much. However, the economy registered more people entering the labour market(‘000):
…ultimately resulting in higher unemployment:
I don’t want to read too much into this – it’s obvious that seasonal adjustment of the figures doesn’t quite smooth out all of the seasonal variation, and the confluence of a sharp drop and recovery across both unadjusted and adjusted numbers is very suggestive.
So the jump in the unemployment rate from 2.7% t0 3.2% isn’t as drastic as it appears at first glance. As long as the ratios are within the historical norms, I’m not going to be too concerned.
September 2012 Employment Report from the Department of Statistics (warning: pdf link)