Unemployment in Australia
Australia - Unemployment
Labor market paints a mixed picture in April
Seasonally-adjusted employment increased by 28,400 in April from the previous month, following the revised 27,700 jobs added in March (previously reported: +25,700 jobs) and more than doubling analysts’ expectations of a gain of 14,000. April’s reading was driven by a rise in part-time workers which more than offset a decline in full-time workers.
Seasonally-adjusted unemployment inched up to 5.2% in April from March’s revised 5.1% (previously reported: 5.0%). However, this was due to an increase in the seasonally-adjusted participation rate, which rose from 65.7% in March to 65.8%. Meanwhile, the seasonally-adjusted underemployment rate increased from the previous month’s 8.2% to 8.5% in April.
Markets reacted by driving the Australian dollar down, sustained by higher expectations that, due to the pick-up in the unemployment rate, the Reserve Bank of Australia will cut interest rates at its next monetary policy meeting in June.
FocusEconomics panelists expect the unemployment rate to average 5.0% in 2019, unchanged from last month’s forecast, and 5.1% in 2020.
Australia - Unemployment Data
5 years of economic forecasts for more than 30 economic indicators.
Australia Unemployment Chart
Source: Australia Bureau of Statistics and FocusEconomics calculations.
|Bond Yield||1.73||1.47 %||May 13|
|Exchange Rate||0.70||0.05 %||May 13|
|Stock Market||6,381||0.08 %||May 13|
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Australia: Healthy public finances and lower taxes ahead, as Australians defy opinion polls and reelect center-right government
May 21, 2019
Australia’s parliamentary election on 18 May delivered a surprise victory to the ruling center-right Liberal–National coalition, led by Prime Minister Scott Morrison.
May 16, 2019
The Westpac-Melbourne Institute consumer sentiment index rose to 101.3 in May from 100.7 in April.
May 16, 2019
Seasonally-adjusted employment increased by 28,400 in April from the previous month, following the revised 27,700 jobs added in March (previously reported: +25,700 jobs) and more than doubling analysts’ expectations of a gain of 14,000.
May 14, 2019
The business confidence index produced by National Australia Bank (NAB) rose almost imperceptibly to minus 0.3 points in April from March’s revised minus 0.6 points (previously reported: minus 0.4 points), which had marked the weakest result in over five years.
May 8, 2019
At its 7 May monetary policy meeting, the Reserve Bank of Australia (RBA) left the cash rate unchanged at an all-time low of 1.50%, where it has been for over two years.