Australia Unemployment April 2021

Australia

Australia: Unemployment rate drops in April

May 20, 2021

Seasonally-adjusted employment decreased by 30,600 in April, following 77,000 jobs gain in March and surprising markets on the downside. April’s result was driven by a decrease in part-time employment more than outweighing increasing full-time employment.

Meanwhile, the seasonally-adjusted unemployment rate dropped to 5.5% in April, from March’s 5.7%, logging the lowest reading since March 2020 and markedly down from the 7.5% peak reached in July 2020. Moreover, the seasonally-adjusted underemployment rate dropped from 8.0% in March to 7.8%. However, the participation rate decreased to 66.0% from the previous month’s 66.3%.

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 April 2021

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


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