Sydney Australia skyline

Australia Unemployment August 2019

Australia: Despite sustained job creation, unemployment rate hits one-year high in August

Seasonally-adjusted employment rose by 34,700 in August, following a revised 36,400 job addition in July (previously reported: +41,100). August’s result came in above the expectations of most market analysts and was driven by a jump in part-time employment, while full-time jobs were shed.

Seasonally-adjusted unemployment inched up to a one-year high of 5.3% in August, from 5.2% in July as higher employment was more than offset by an increasing supply of labor. As such, the seasonally-adjusted participation rate ticked up to a fresh all-time high of 66.2%. Meanwhile, the seasonally-adjusted underemployment rate rose to 8.6% in August, from 8.5% in July.

August’s labor market data drove the Aussie dollar down to a two-week low as it reinforced expectations that the Reserve Bank of Australia will likely resume its monetary policy easing cycle at its next meeting in October, as labor market slack continues to put downward pressure on wages and inflation.

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest