Australia Unemployment

Australia

Australia: Unemployment ticks up in September

October 9, 2014

In September, the labor market lost 29,700 jobs compared to the previous month in seasonally-adjusted terms, which contrasted the revised 32,100 jobs gained in August (previously reported: 121,000 gain) and market expectations of a 15,500 gain. The figure was driven by a large decrease in part-time positions (51,300 lost), whereas 21,600 full-time positions were created.

Labor market participation fell slightly to 64.5% in September from August’s 64.7%. The unemployment rate ticked up to 6.1% in September from 6.0% in August, marking the highest rate since July 2003.

FocusEconomics panelists expect the unemployment rate to average 6.0% in 2014, which is unchanged from last month’s forecast. In 2015, the panel expects the unemployment rate to inch down to 5.9%.


Author: Angela Bouzanis, Senior Economist

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