Australia Unemployment May 2017

Australia

Australia: Unemployment rate declines in May

June 15, 2017

Seasonally-adjusted employment increased by 42,000 jobs in May compared to the previous month, down from the 46,100 new jobs created in April. May’s figure overshot analysts’ expectations of 10,000 new jobs. The increase in employment reflects an increase in full-time positions of 52,100 in May (April: -5,700), while the number of part-time positions fell by 10,100 in the same month, down from the 51,900 part-time positions created in April.

The labor market participation rate edged up to 64.9% in May (April: 64.8%), which led the unemployment rate to fall from April’s 5.7% to 5.5% in May.

FocusEconomics panelists expect the unemployment rate to average 5.7% in 2017, which is unchanged from last month’s forecast. In 2018, the panel expects the unemployment rate to be 5.6%.


Author:, Economist

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Australia Unemployment May 2017

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


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