Australia Unemployment


Australia: Unemployment rate edges down

January 15, 2015

In December, the labor market gained 37,400 jobs compared to the previous month, in seasonally-adjusted terms, which was below the revised 45,000 jobs gain in November (previously reported: 42,700 gain). The figure overshot market expectations of a 5,000 gain. The increase in jobs was driven by a rise in full-time positions (41,600 created), whereas the number of new part-time positions generated decreased compared to last month.

Labor market participation increased slightly to 64.8% in December from November’s 64.7%. The unemployment rate fell from November’s 6.2% to 6.1% in December.

FocusEconomics panelists expect the unemployment rate to average 6.0% in 2015, which is unchanged from last month’s forecast. In 2016, the panel expects the unemployment rate to inch down to 5.8%.

Author: Angela Bouzanis, Senior Economist

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Australia Unemployment Chart

Australia Unemployment December 2014

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

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