Australia Unemployment January 2016

Australia

Australia: Unemployment rate climbs in January

February 18, 2016

In January, the labor market lost 7,900 jobs compared to the previous month, in seasonally-adjusted terms. The decrease was a drastic deterioration over December’s 800 job increase. January’s tally surprised markets, which had expected an increase of 15,000 jobs in January. January’s result was driven by a decrease in the number of full-time jobs, and an increase in the number of part-time jobs. The number of part-time positions grew by 32,700 jobs (December: -17,800 jobs), while the number of full-time positions fell by 40,600 jobs (December: +17,000 jobs).

The labor market participation rate was steady at December’s 65.2% in January. The unemployment rate inched up from 5.8% in December to 6.0% in January.

FocusEconomics panelists expect the unemployment rate to average 5.7% in 2016, which is unchanged from last month’s forecast. In 2017, the panel expects that the unemployment rate also will be 5.7%.


Author:, Economist

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Australia Unemployment January 2016

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


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