Australia Unemployment


Unemployment rate inches down in August

In August, the labor market gained 17,400 jobs compared to the previous month, in seasonally-adjusted terms. The increase was a significant moderation compared to last month’s gain of 39,200 jobs; however, it still managed to surprise analysts who expected an increase of just 5,000 jobs. August’s moderation was driven by fewer full-time and part-time jobs created in comparison to July. In August, the number of part-time positions increased by 5,900 (July: +26,100 jobs), while the number of full-time positions increased by 11,500 (July: +13,100 jobs).

The labor market participation rate inched down to 65.0% in August from 65.1% in July. Due to the increase in the number of jobs and the decrease in the participation rate, the unemployment rate fell 0.1 percentage points to 6.2% in August from July’s figure of 6.3%.

FocusEconomics panelists expect the unemployment rate to average 6.4% in 2015, which is unchanged from last month’s forecast. In 2016, the panel expects that the unemployment rate will inch down to 6.3%.

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Australia Unemployment Chart

Australia Unemployment August 2015

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

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