Australia Unemployment July 2018

Australia

Australia: The labor market sheds some jobs in July

August 16, 2018

Seasonally-adjusted employment decreased by 3,900 in July compared to the previous month, following the revised 58,200 jobs created in June (previously reported: +50,900 jobs) and undershooting analysts’ expectations for a gain of 15,000. July’s reading was driven by a reduction of part-time workers, while the number of full-time workers increased.

Seasonally-adjusted unemployment inched down from June’s 5.4% to a near six-year low of 5.3% in July. Meanwhile, the trend participation rate edged down from 65.7% in June to 65.5%—although still close to a record high—as more women left the labor force. Recently released data on wage growth until May shows that the pace of growth in salaries, although still unremarkable, is slowly gaining strength, thanks to strong demand for labor.

Australia Unemployment Rate


FocusEconomics panelists expect the unemployment rate to average 5.4% in 2018 and 5.2% in 2019.


Author: Massimo Bassetti, Senior Economist

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Australia Unemployment Chart


Australia Unemployment July 2018

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


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