Australia Unemployment September 2016

Australia

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

October 20, 2016

The labor market lost 9,800 net new jobs in September compared to the previous month in seasonally-adjusted terms. The decrease followed August’s 8,600 lost jobs. The number of new positions in September came in far below market expectations of a 15,000 increase. The result reflected a steep drop in the number of full-time positions, which fell by 53,000 (August: +10,100), the steepest drop since April 2011. The number of part-time positions grew by 43,200 (August: -18,600).

In August, the labor market participation rate edged down from August’s 64.7% mark to 64.5%. The unemployment rate inched down to 5.6% in September (August: 5.7%). August’s result marks the lowest reading since February 2013.

FocusEconomics panelists expect the unemployment rate to average 5.7% in 2016, down 0.1 percentage points from last month’s forecast. In 2017, the panel expects the unemployment rate to remain stable at 5.6%, which was unchanged from last month’s estimate.


Author:, Economist

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