Unemployment in Australia
Australia - Unemployment
Labor market continues to add new jobs in November
Seasonally-adjusted employment increased by 37,000 in November compared to the previous month, following the revised 28,700 jobs added in October (previously reported: +32,800 jobs) and overshooting analysts’ expectations for a gain of 20,000. November’s reading was driven by a robust increase of part-time workers more than offsetting a small decline in full-time workers.
Seasonally-adjusted unemployment inched up from October’s over six-year low of 5.0% to 5.1% in November. Moreover, November saw an increase in the number of people actively looking for a job, as the seasonally-adjusted participation rate rose from 65.5% in October to 65.7%. On the other hand, both the seasonally-adjusted underutilization rate and the seasonally-adjusted underemployment rate edged up from the previous month in November.
Australia Unemployment Rate Forecast
FocusEconomics panelists expect the unemployment rate to average 5.2% 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||2.27||1.47 %||Jan 14|
|Exchange Rate||0.72||0.05 %||Jan 14|
|Stock Market||5,833||0.08 %||Jan 14|
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January 16, 2019
The Westpac-Melbourne Institute consumer sentiment index fell from 104.4 in December to 99.6 in January.
January 11, 2019
Nominal retail sales growth in November came in at 0.4% over the previous month in seasonally-adjusted terms, following October’s 0.3% expansion.
December 20, 2018
Seasonally-adjusted employment increased by 37,000 in November compared to the previous month, following the revised 28,700 jobs added in October (previously reported: +32,800 jobs) and overshooting analysts’ expectations for a gain of 20,000.
December 12, 2018
The Westpac-Melbourne Institute consumer sentiment index inched up from 104.3 in November to 104.4 in December.
December 11, 2018
The business confidence index produced by National Australia Bank (NAB) declined to 3.2 points in November from October’s revised 4.5 points (previously reported: 4.2 points).