Australia Unemployment January 2021

Australia

Australia: Unemployment rate at 10-month low in January

February 18, 2021

Seasonally-adjusted employment increased by 29,100 in January, following 50,000 jobs gain in December. January’s result was driven by an increase in full-time employment more than outweighing falling part-time employment.

Meanwhile, the seasonally-adjusted unemployment rate fell to 6.4% in January, from December’s 6.6%, marking the lowest reading since March 2020. Additionally, the seasonally-adjusted underemployment rate fell to 8.1% from December’s 8.5%. Meanwhile, the participation rate dipped from 66.2% in December to 66.1% in January.

FocusEconomics panelists project the unemployment rate to average 7.2% in 2021, down 0.1 percentage points from last month’s estimate, and 6.2% in 2022.


Author: Massimo Bassetti, Senior Economist

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Australia Unemployment Chart


Australia Unemployment January 2021

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


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