Australia Unemployment February 2018

Australia

Australia: Jobs growth remains solid in February but unemployment rate rises

March 22, 2018

Seasonally-adjusted employment increased by 17,500 in February compared to the prior month, up from 12,500 jobs in January but slightly undershooting analysts’ expectations. February’s increase was driven by greater full-time employment offsetting a drop in part-time employment.

Despite more people finding work, the unemployment rate rose marginally in February to 5.6% from 5.5% in the prior month, as more people started looking for work in February, not all of whom were absorbed by the labor market—this is evidenced by an 8,900 rise in the number of unemployed people. Measures of underemployment and labor underutilization remained fairly high, which suggests ongoing slack in the labor market and likely goes some way to explaining persistently low wage growth.

Australia Unemployment Rate Forecast


FocusEconomics panelists expect the unemployment rate to average 5.3% in 2018 and 5.2% in 2019.


Author:, Economist

Sample Report

Looking for forecasts related to Unemployment in Australia? Download a sample report now.

Download

Australia Unemployment Chart


Australia Unemployment February 2018

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


Australia Economic News

  • Australia: Retail sales jump in November

    January 11, 2021

    Nominal retail sales in November soared 7.1% over the previous month in seasonally-adjusted terms, following October’s 1.4% increase. Particularly pronounced increases were recorded in household goods retailing, clothing, footwear and personal accessory retailing, department stores, cafes, restaurants and takeaway food services and other retailing. In annual terms, retail sales jumped 12.1% in November, following October’s 7.7% expansion.

    Read more

  • Australia: Unemployment rate drops in November

    December 17, 2020

    Seasonally-adjusted employment soared by 90,000 in November, following revised 180,400 jobs gain in October (previously reported: +178,800).

    Read more

  • Australia: Business confidence at highest level in close to three years in November

    December 11, 2020

    The business confidence index produced by National Australia Bank (NAB) soared from 3.2 points in October to 12.4 points in November, marking the highest reading since April 2018.

    Read more

  • Australia: Consumer sentiment at over 10-year high in December

    December 11, 2020

    The Westpac-Melbourne Institute consumer sentiment index surged from 107.7 in November to 112.0 in December, marking the highest reading since October 2010.

    Read more

  • Australia: Retail sales rebound in October

    December 4, 2020

    Nominal retail sales in October expanded 1.4% over the previous month in seasonally-adjusted terms, contrasting September’s 1.1% drop. Particularly pronounced increases were recorded in cafes, restaurants and takeaway food services, as well as in food clothing, footwear and personal accessory retailing.

    Read more

More news

Search form