Australia Unemployment


Australia: Unemployment rate falls in October

November 12, 2015

In October, the labor market gained 58,600 jobs compared to the previous month, in seasonally-adjusted terms. The decrease contrasted last month’s revised loss of 800 jobs (previously reported: -5,100 jobs). October’s tally also surprised markets, which had expected a much smaller 15,000 job increase in October. October’s result was driven by increases in both the number of full-time and part-time jobs. The number of part-time positions increased by 18,600 jobs (September: +9,600 jobs), while the number of full-time positions rebounded and rose by a strong 40,000 jobs (September: -10,400 jobs).

The labor market participation rate inched up to 65.0% in October from 64.9% in September. Due to the decrease in the number of jobs offsetting the increased participation rate, the unemployment rate in October inched down from 6.2% in September to 5.9%.

FocusEconomics panelists expect the unemployment rate to average 6.2% in 2015, which is unchanged from last month’s forecast. In 2016, the panel expects that the unemployment rate will inch down to 6.1%, which is also unchanged from last month’s estimate.

Author:, Economist

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Australia Unemployment Chart

Australia Unemployment October 2015

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

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