Australia Unemployment December 2018

Australia

Australia: Labor market closes 2018 on a strong note

January 24, 2019

Seasonally-adjusted employment increased by 21,600 in December from the previous month, following the revised 39,000 jobs added in November (previously reported: +37,000 jobs) and overshooting analysts’ expectations for a gain of 16,500. December’s reading was driven by healthy increases of both part-time and full-time workers.

Seasonally-adjusted unemployment inched down from November’s 5.1 to 5.0% in December. Moreover, the seasonally-adjusted underemployment rate inched down from the previous month in December. On the other hand, December saw a decrease in the seasonally-adjusted participation rate, which inched down from 65.7% in November to 65.6%.

FocusEconomics panelists expect the unemployment rate to average 5.2% in 2019, unchanged from last month’s forecast, and 5.1% in 2020.


Author: Massimo Bassetti, Economist

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Australia Unemployment Chart


Australia Unemployment December 2018 0

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


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