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Australia Jobless Rate Lowest in 5 Months
Australia's seasonally adjusted unemployment rate fell to 3.7% in February 2024, the lowest since last September, from 4.1% in January. Figures were less than market forecasts of 4.0% as the number of unemployed individuals dropped by 52 thousand to 548.3 thousand, with those seeking full-time jobs falling by 47.8 thousand to 351.5 thousand and those looking for part-time jobs retreating by 4.3 thousand to 196.7 thousand. Meanwhile, employment surged 116.5 thousand to a record 14.27 million, easily topping consensus of a 40 thousand gain. Full-time employment climbed 78.2 thousand to 9.82 million, and part-time employment added 38.3 thousand to 4.44 million. The participation rate was at 66.7%, down slightly from a downwardly revised 66.6% in January, compared with expectations of 66.8%. The underemployment rate inched down to 6.6%, which was 2.2 points lower than that in March 2020. Additionally, monthly hours in all jobs rose by 53 million, or 2.8%, to 1,933 million.
Published on 2024-03-21

Australia Jobless Rate Hits 2-Year High
Australia's seasonally adjusted unemployment rate increased to 4.1% in January 2024, the highest since January 2022, from 3.9% in the prior month, above forecasts of 4.0%. The number of unemployed individuals climbed by 22.3 thousand to 600.6 thousand, with those seeking full-time jobs rising by 24.8 thousand to 404.3 thousand while falling for part-time by 2.5 thousand to 196.3 thousand. Meanwhile, employment rose by 0.5 thousand to 14.20 million, missing the consensus of a 30 thousand jump. Full-time employment advanced by 11.1 thousand to 9.80 million, while part-time employment declined by 10.6 thousand to 4.40 million. The participation rate was unchanged at 66.8%, compared to expectations of 66.9%, and after a record high of 67.3% last November. Meanwhile, the underemployment rate edged up to 6.6% but was 2.1 points lower than in March 2020. Additionally, monthly hours in all jobs shrank by 49 million, or 2.5%, to 1,871 million.
Published on 2024-02-15

Australia Jobless Rate Stays at 18-Month High
Australia's seasonally adjusted unemployment rate stood at 3.9% in December 2023, unchanged from November's 18-month high, and matching forecasts. The number of unemployed individuals edged down by 0.8 thousand to 573.6 thousand, with those seeking full-time jobs falling by 7.3 thousand to 367.7 thousand while rising for part-time by 6.5 thousand to 196.7 thousand. Meanwhile, employment unexpectedly declined by 65.1 thousand to 14.20 million, missing market expectations of a 17.6 thousand gain and reversing from a 72.6 thousand rise in November. Full-time employment dropped by 106.6 thousand to 9.79 million, while part-time employment increased by 41.4 thousand to 4.41 million. The participation rate decreased to 66.8% from a record high of 67.3% in November and below forecasts of 67.1%. Meanwhile, the underemployment rate was unchanged at 6.5%, still 2.2 points lower than before the pandemic. Additionally, monthly hours in all jobs fell by 10 million, or 0.5%, to 1,926 million.
Published on 2024-01-18

Australia Jobless Rate Highest in 1-1/2 Years
Australia's seasonally adjusted unemployment rate edged up to 3.9% in November 2023 from an upwardly revised 3.8% in the previous month, exceeding the market forecasts of 3.8% and pointing to the highest level since May 2022. The number of unemployed individuals increased by 18.8 thousand to 572 thousand, with those seeking full-time jobs rising by 10.6 thousand to 383.6 thousand and part-time by 8.1 thousand to 188.3 thousand. Meanwhile, employment increased by 61.5 thousand to 14.26 million, surpassing market forecasts of 11 thousand gain and advancing from the 42.7 thousand rise in October. Part-time employment advanced by 4.5 thousand to 4.35 million, while full-time employment surged by 57 thousand to 9.91 million. The participation rate climbed to a record high of 67.2% from 67.0%, exceeding forecasts of 66.9%. Meanwhile, the underemployment rate inched up to 6.5% from 6.3%, still 2.2 points lower than before the pandemic.
Published on 2023-12-14

Australia Jobless Rate Edges Up to 3.7%
Australia's seasonally adjusted unemployment rate inched up to 3.7% in October 2023, a slight acceleration from September's three-month low of 3.6%, aligning with the market consensus. The number of unemployed individuals increased by 27.9 thousand to 547.8 thousand, with those seeking full-time jobs rising by 31.5 thousand to 369.4 thousand. Simultaneously, employment surged by 55 thousand to 14.17 million, surpassing market forecasts of a 20 thousand gain and significantly speeding up from the 7.8 thousand rise in September. Part-time employment increased by 37.9 thousand to 4.34 million, while full-time employment grew by 17 thousand to 9.83 million. The participation rate rose to 67.0% from the previous 66.8%, exceeding forecasts of 66.7%. Meanwhile, the underemployment rate remained at 6.3%, still 2.4 points lower than before the pandemic.
Published on 2023-11-16

Australia Jobless Rate Lowest in 3 Months
Australia's seasonally adjusted unemployment unexpectedly was at a three-month low of 3.6% in September 2023, easing slightly from August's figure and falling below market consensus of 3.7%. The number of unemployed individuals dropped by 19.8 thousand to 520.5 thousand, as people looking for full-time jobs decreased by 19.7 thousand to 338.3 thousand while those seeking part-time jobs dropped by 0.1 thousand to 182.2 thousand. At the same time, employment advanced by 6.7 thousand to 14.11 million, less than market forecasts of a 20 thousand gain, after a 63.3 thousand increase in August. Part-time employment increased by 46.5 thousand to 4.30 million, while full-time employment declined by 39.9 thousand to 9.81 million. The participation rate went down to 66.7% from last month's record high of 67%, below forecasts of 67%. Meantime, the underemployment rate edged down to 6.4% from 6.5%. Additionally, monthly hours in all jobs dropped by 8 million, or 0.4%, to 1,930 million.
Published on 2023-10-19

Australia Jobless Rate Stays at 3-Month High
Australia's seasonally adjusted unemployment stood at 3.7% in August 2023, unchanged from July's three-month high and matching the market forecast. The number of unemployed individuals fell by 2.6 thousand to 540.5 thousand, as people looking for part-time jobs dropped by 8.7 thousand to 182.2 thousand while those seeking full-time jobs increased by 6 thousand to 358.3 thousand. At the same time, employment surged by 64.9 thousand to 14.11 million, more than market forecasts of a 23 thousand gain, rebounding from a 1.4 thousand fall in July. Full-time employment advanced by 2.8 thousand to 9.85 million, while part-time employment climbed by 62.1 thousand to 4.26 million. The participation rate edged up to 67% from 66.9%, reaching an all-time high, above forecasts of 66.7%. Meantime, the underemployment rate rose to 6.6% from 6.4% but was still around 2.2 points lower than before the pandemic. Additionally, monthly hours in all jobs fell by 9 million, or 0.5%, to 1,941 million.
Published on 2023-09-14

Australia Jobless Rate Rises to 3-Month High of 3.7%
Australia's seasonally adjusted unemployment increased to 3.7% in July from 3.5% in the previous month, above market expectations of 3.6%, and pointing to the highest level since April. The number of unemployed individuals rose by 35.6 thousand to 541 thousand, as people looking for full-time jobs climbed by 21.9 thousand to 349.5 thousand while those seeking part-time jobs - by 13.8 thousand to 191.5 thousand. At the same time, employment unexpectedly fell by 14.6 thousand to 14.03 million, missing market forecasts of a 15 thousand gain, reversing from a 31.6 thousand jump in June. Full-time employment declined by 24.2 thousand to 9.84 million, while part-time employment advanced by 9.6 thousand to 4.19 million. The participation rate inched down to 66.7% from 66.8% in June, below the market consensus of 66.8%. Meanwhile, the underemployment rate was unchanged at 6.4%. Additionally, monthly hours in all jobs increased by 4 million, or 0.2 percent, to 1,952 million.
Published on 2023-08-17

Australia Jobless Rate Unchanged at 3.5%
Australia's seasonally adjusted unemployment rate stood at 3.5% in June 2023, unchanged from a downwardly revised figure in May, remaining close to last October's 50-year lows, below market expectations of 3.6%. The number of unemployed individuals fell by 10.9 thousand to 504.4 thousand, with those seeking full-time jobs declining by 22.1 thousand to 328 thousand while those looking for part-time jobs increased by 11.3 thousand to 176.4 thousand. Simultaneously, employment increased by 32.6 thousand to 14.05 million, easily surpassing market forecasts of a 15 thousand gain. Full-time employment climbed by 39.3 thousand to 9.87 million, while part-time employment decreased by 6.7 thousand to 4.18 million. The participation rate edged down to 66.8% from May's record high of 66.9%, below the market consensus of 66.9%. Meanwhile, the underemployment rate was unchanged at 6.4%. Additionally, monthly hours in all jobs rose by 6 million, or 0.5 percent, to 1,947 million.
Published on 2023-07-20

Australia Jobless Rate Unexpectedly Edges Down
Australia's seasonally adjusted unemployment rate declined to 3.6 percent in May 2023, below market expectations and April's figure of 3.7 percent. The number of unemployed individuals fell by 16.5 thousand to 515.9 thousand, with those seeking full-time jobs decreasing by 16.8 thousand to 351.4 thousand and those looking for part-time jobs rising by 0.6 thousand to 164.8 thousand. Simultaneously, employment climbed by 75.9 thousand to 14.01 million, the largest increase since June 2022 and easily surpassing market forecasts of a 15.0 thousand gain. Full-time employment advanced by 61.7 thousand to 9.83 million, while part-time employment grew by 14.3 thousand to 4.19 million. The participation rate reached 66.9 percent, exceeding the market consensus of 66.7 percent. However, the underemployment rate went up to 6.4 percent from 6.2 percent. Additionally, monthly hours in all jobs dropped by 36 million, or 1.8 percent, to 1,944 million.
Published on 2023-06-15

Australia Jobless Rate Unexpectedly Rises
Australia's seasonally adjusted unemployment rate unexpectedly rose to 3.7% in April 2023, marking a slight increase from the previous months and deviating from market expectations of 3.5 percent. The number of unemployed individuals increased by 18,400 to reach 528,000, while employment declined by 4,300, reaching a total of 13.88 million. This represents the first decrease in employment over the past three months, falling short of market forecasts that predicted a 25,000 rise. The participation rate saw a slight decrease from 66.8% to 66.7%, aligning with market consensus. The underemployment rate, which indicates the number of individuals seeking additional work or longer hours, decreased slightly from 6.2% to 6.1%. In terms of overall working hours, there was an increase of 29 million or 2.6% in monthly hours across all jobs, reaching a total of 1,974 million.
Published on 2023-05-18

Australia Jobless Rate Unchanged at 3.5%
Australia's seasonally adjusted unemployment rate stood at 3.5% in March 2023, unchanged from February's near 50-year low but below market estimates of 3.6%. The number of unemployed declined by 1,600 to 507,000, as people sought full-time jobs fell by 3,100 to 339.200 while those looking for part-time jobs climbed by 1,400 to 167,800. At the same time, employment increased by 53,000 to 13.88 million, the second straight month of increase, easily beating market forecasts of a 20,000 gain. Full-time employment rose by 72,200 to 9,748,900, while part-time fell by 19,200 to 4,135,600. The participation rate was unchanged at 66.7%, above the consensus of 66.6%. The underemployment rate increased to 6.2% from 5.8%. Monthly hours in all jobs dropped by 3 million or 0.2% to 1,914 million.
Published on 2023-04-13

Australia Jobless Rate Below Forecasts
Australia's seasonally adjusted unemployment rate declined to 3.5% in February 2023 from January's eight-month high of 3.7% and below market estimates of 3.6%, as the number of unemployed decreased by 16,500 to 507,500. People looking for full-time jobs dropped by 4,800 to 341,500, and those seeking part-time jobs - by 11,700 to 166.000. At the same time, employment climbed by 64,600 to 13.83 million, the first increase in three months, more than forecasts of a 48,500 gain. Full-time employment rose by 74,900 to 9,669,300, while part-time fell by 10,300 to 4,156,900. The participation rate inched up to 66.6% from 66.5% in January. The underemployment rate went down to 5.8% from 6.2%, while the underutilization declined to 9.4% from 9.8%. Monthly hours in all jobs increased by 72 million or 3.9% to 1,917 million.
Published on 2023-03-16

Australia Jobless Rate Highest in 8 Months
Australia's seasonally adjusted unemployment rate unexpectedly increased to 3.7% in January 2023 from December's near five-decade low of 3.5% and above market estimates of 3.5%. This was the highest jobless rate since last May, as the number of unemployed climbed by 21,900 to 523,200. People looking for full-time jobs rose by 17,000 to 344,000, and those seeking part-time jobs - by 4,900 to 179.200. At the same time, employment dropped by 11,500 to 13.72 million, the second straight month of decline, missing forecasts of a 20,000 gain. Full-time employment decreased by 43,300 to 9,567,800, while part-time rose by 31,800 to 4,154,100. The participation rate edged down to 66.5% from 66.6% in December. The underemployment rate was unchanged at 6.1%, while the underutilization went up to 9.8% from 9.6%. Monthly hours in all jobs shrank by 40 million or 2.1% to 1,836 million.
Published on 2023-02-16

Australia Jobless Rate Steady at 3.5%
Australia's seasonally adjusted unemployment rate stood at an unexpected 3.5% in December 2022, unchanged from an upwardly revised figure in November and compared with market estimates of 3.4%. The latest print remained near five-decade lows, as the number of unemployed increased by 5,800 to 499,800. People looking for full-time jobs rose by 1,400 to 326,100, and those seeking part-time jobs - by 4,400 to 173.600. At the same time, employment fell by 14,600 to 13.75 million, the first drop since July, missing forecasts of a 22,500 growth. Part-time employment declined by 32,200 to 4,128,100, and full-time employment surged by 17,600 to 9,619,000. The participation rate slid to 66.6% from a record high of 66.8% in November. The underemployment rate went up to 6.1% from 5.8%, while the underutilization climbed to 9.6% from 9.3%. Monthly hours worked in all jobs shrank by 9 million or 0.5% to 1,888 million.
Published on 2023-01-19

Australia Jobless Rate Stays at 3.4%
The seasonally adjusted unemployment rate in Australia stood at 3.4% in November 2022, unchanged from the previous month, and matching market estimates. The number of unemployed fell by 7,400 to 491,700, with people looking for full-time jobs falling by 1,100 to 322,900, and those part-time work dropped by 8,300 to 168.700. Meantime, employment increased by 64,000 to a fresh record peak of 13.77 million, beating market forecasts of a rise of 19 thousand, as full-time employment rose 34,200 to 9,601,500 while part-time employment gained 29,800 to 4,167,800. The participation rate edged up to 66.8%, returning to the record high hit in June 2022, above consensus of 66.6%. The underemployment rate inched down to 5.8%, 2.9 percentage points below the pre-pandemic; while the underutilization edged down to 9.3, the lowest rate since February 1982. Monthly hours worked in all jobs declined by 9 million, or 0.4%, to 1,901 million hours.
Published on 2022-12-15

Australia Jobless Rate Unexpectedly Inches Lower
The seasonally adjusted unemployment rate in Australia unexpectedly edged down to 3.4% in October 2022 from 3.5% in September, while markets expected a slight rise of 3.6%. The number of unemployed fell by 20,600 to 477,600, with people looking for full-time jobs down by 15,200 to 320,300, and those part-time work dropped by 5,300 to 1573000. Meantime, employment increased by 32,200 to a new record high of 13.62 million, beating market forecasts of a rise of 15 thousand, as full-time employment gained 47,100 to 9,525,900 while part-time employment fell 14,900 to 4,092,100. The participation rate was unchanged at 66.5%, compared with consensus of 66.6% and slightly below the historical high of 66.7%. The underemployment rate ticked down to 5.9% from 6.0%; while the underutilization stayed at 9.4%. Monthly hours worked in all jobs rose by 43 million, or 2.3%, to 1,897 million hours.
Published on 2022-11-17

Australia Jobless Rate Unchanged at 3.5%
Australia's unemployment rate stood at 3.5% in September 2022, unchanged from the previous month, and matching market estimates. The number of unemployed climbed by 8.800 to 499,400, with the number of people looking for full-time jobs rising by 1,300 to 336,400, while those part-time work increased by 7,500 to 163,000. Meantime, employment increased by 900 to a new record high of 13.60 million, compared with forecasts of a 25 thousand rise, as full-time employment increased by 13,300 to 9,478,400 while part-time employment dropped by 12,400 to 4,112,400. The participation rate was unchanged at 66.6% and in line with market consensus. The underemployment rate was unchanged at 6.0%; while the underutilization edged up 0.1% to 9.6%. Monthly hours worked in all jobs rose by 3 million to 1,859 million hours.
Published on 2022-10-20

Australia Jobless Rate Unexpectedly Inches Higher
Australia's unemployment rate was at 3.5% in August 2022, compared with July's record low and market estimates of 3.4%, pointing to the first increase in ten months. The number of unemployed increased by 14,000 to 487,700, with the number of people looking for full-time jobs rising by 15,500 to 332,100, while those part-time work decreased by 1,400 to 155,600. Meantime, employment climbed by 33,500 to a fresh top of 13.59 million, compared with forecasts of a 35 thousand rise, as full-time employment increased by 58,800 to 9,468,500 while part-time employment fell by 25,300 to 4,123,600. The participation rate grew to 66.6% from 66.4% in July which matched consensus. The underemployment rate inched down to 5.9% from 6.0%; while the underutilization was unchanged at 9.4%, staying at its lowest since April 1982. Monthly hours worked in all jobs rose by 14 million to 1,854 million hours.
Published on 2022-09-15

Australia Jobless Rate Falls to Fresh Low of 3.4%
Australia's seasonally adjusted unemployment unexpectedly hit a new record low of 3.4% in July 2022, compared with June’s print and market forecasts of 3.5%. The number of unemployed fell by 20,000 to 473,900, with the number of people looking for full-time job falling by 26,000 to 316,700, while those part-time work increasing by 5,900 to 157,100. Meantime, employment unexpectedly declined by 40,900 to 13.56 million, compared to forecasts of a 25 thousand rise and down for the first time in nine months, as full-time employment decreased by 86,900 to 9,409,400 while part-time employment increased by 46,000 to 4,149,000. The participation rate fell to 66.4% compared with consensus and June's figure record high of 66.8%. The underemployment rate edged down to 6.0% from 6.1%; while the underutilization went down to 9.4% from 9.6%, staying at its lowest since April 1982. Monthly hours worked in all jobs dropped to 1,840 million hours.
Published on 2022-08-18