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

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Australia Unemployment Chart


Australia Unemployment February 2018

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


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