Australia Unemployment


Unemployment rate continues to fall in March

In March, the labor market gained 37,700 jobs compared to the previous month in seasonally-adjusted terms. The increase was lower than February’s 42,000 jobs gain (previously reported: 15,600). March’s result came in significantly above market expectations of a 15,000 gain. The increase was driven by a 31,500 increase in the number of new full-time positions, as well as a 6,100 rise in the number of new part-time positions.

Labor market participation ticked up to 64.8% in March from February’s 64.7% (previously reported: 64.6%). As a result of the job gains, the unemployment rate inched down to 6.1% from February’s 6.2% (previously reported: 6.3%).

FocusEconomics panelists expect the unemployment rate to average 6.4% in 2015, which is up 0.2 percentage points from last month’s forecast. In 2016, the panel expects the unemployment rate to inch down to 6.2%.

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Australia Unemployment Chart

Australia Unemployment March 2015

Note: Seasonally-adjusted unemployment rate in % and new jobs in thousands.
Source: Australian Bureau of Statistics.

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