Unemployment on the rise

The rate of unemployment increased in August, according to new figures from the Australian Bureau of Statistics (ABS) released today (September 8).

Currently the level is sitting at 5.3 per cent, following a 0.1 per cent rise over the last month.

This represents a total of 18,400 individuals who have found themselves out of work, bringing the total to 636,800.

The ABS has reported an increase in the number of part-time employment, jumping 2,900.

Labour force under-utilisation has also jumped 0.1 per cent to 12.3 per cent.

A number of industries have found themselves struggling in recent months, resulting in layoffs.

Numbers of residential houses under construction have dropped, along with building approval rates, leaving many tradespersons without regular work.

The solar industry has also taken a hit, with 25 per cent of businesses having shut down due to low consumer demand following the closure of the New South Wales feed-in tariff scheme.

Individuals who have found themselves in the unfortunate position of being let go will now be forced to make cuts to the household budget as they look for more work.

Home energy bills are a great place to start - by changing patterns of electricity and gas usage, consumers can lower their total bill.

Energy-saving measures can reduce the impact of electricity and gas prices on the budget, along with consulting a utilities switching service.

By simply changing their electricity supplier, homes may be able to benefit from a cheaper rate for the energy they use.