Australia Unemployment December 2016

Australia

Australia: Unemployment rate inches up in December

January 19, 2017

Seasonally-adjusted employment increased by 13,500 people in December compared to the previous month, down from the 37,100 new jobs created in November. December’s figure came in above analysts’ expectations of an increase in employment of 10,000 people. The rise in employment reflects an increase in part-time positions of 4,200 in December (November: -1,300), while the number of full-time positions rose by 9,300 in the same month, well below the 38,300 reading observed in November.

The labor market participation rate barely inched up from 64.6% in November to 64.7% in December. The unemployment rate in December also ticked up marginally, reaching 5.8% in December (November: 5.7%) and marked the highest reading in almost a year.

FocusEconomics panelists expect the unemployment rate to average 5.6% in 2017, which is unchanged from last month’s forecast. In 2018, the panel expects the unemployment rate to be 5.4%.


Author:, Economist

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Australia Unemployment Chart


Australia Unemployment December 2016

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


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