Australia Unemployment

Australia

Australia: Unemployment reaches over-decade-high in June

July 10, 2014

In June, the labor market added 15,900 new jobs compared to the previous month in seasonally-adjusted terms, which contrasted the revised 5,100 jobs lost in May (previously reported: 4,800 jobs lost). The figure reflected a strong increase in part-time positions (19,700 jobs created), whereas 3,800 full-time positions were lost.

Labor market participation was virtually unchanged at 64.7% in June (May: 64.6%) and has been declining since the beginning of the global financial crisis. The unemployment rate inched up from the 5.9% tallied in May to 6.0% in June, which marked the highest rate since July 2003.

FocusEconomics panelists expect the unemployment rate to average 5.9% in 2014, which is unchanged from last month’s forecast. In 2015, the panel expects the unemployment rate to inch down to 5.8%.


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Australia Unemployment Chart


Australia Unemployment June 2014

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


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