Australia Unemployment May 2022

Australia

Australia: Unemployment rate stable at over 13-year low in May

June 16, 2022

Seasonally-adjusted employment increased by 60,600 in May, following 4,400 jobs added in April. May’s result was driven by an increase in full-time employment more than offsetting a decline in part-time employment.

Meanwhile, the seasonally-adjusted unemployment rate remained stable at April’s 3.9% in April. Meanwhile, the participation rate rose to 66.7% from the previous month’s 66.4%, and the seasonally-adjusted underemployment rate fell to 5.7% in May from 6.1% in April.

FocusEconomics panelists project the unemployment rate to average 4.3% in 2022, down 0.1 percentage points from last month’s estimate, and 4.6% in 2023.


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