Australia Unemployment August 2016

Australia

Australia: Unemployment rate falls to over three-year low in August

September 15, 2016

The labor market lost 3,900 net new jobs in August compared to the previous month in seasonally-adjusted terms. The decrease contrasted July’s 26,200 newly-created jobs. The number of new positions in August came in far below market expectations of a 15,000 increase. The result reflected a steep drop in the number of part-time positions, which fell by 15,400 (July: +69,600). The number of full time-positions grew by 11,500 (July: -43,400).

In August, the labor market participation rate inched down from July’s 64.9% mark to 64.7%. The unemployment rate edged down to 5.6% in August (July: 5.7%). August’s result marks the lowest reading since July 2013.

FocusEconomics panelists expect the unemployment rate to average 5.7% in 2016, up 0.1 percentage points from last month’s forecast. In 2017, the panel expects the unemployment rate to remain stable at 5.7%.


Author:, Economist

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Australia Unemployment August 2016

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


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