Unemployment in Australia

Australia - Unemployment
Unemployment rate at all-time low in June
Seasonally-adjusted employment increased by 88,400 in June, following 60,600 jobs added in May. June’s result was driven by an increase in both full-time and part-time employment.
Meanwhile, the seasonally-adjusted unemployment rate fell to a record-low of 3.5% in June from at May’s 3.9%. Moreover, the participation rate rose to 66.8% from the previous month’s 66.7%, although the seasonally-adjusted underemployment rate rose to 6.1% in June from 5.7% in May.
Commenting on the release, Robert Carnell, regional head of research at ING, stated:
“The last rate decision by the RBA was a straight choice between a 25bp hike and a 50bp hike. They chose 50bp. But ahead of the forthcoming inflation figures, and with thoughts turning to a full percentage-point hike by the Federal Reserve later this month, the next meeting might well be a choice between 50bp and 75bp.”
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.
Australia - Unemployment Data
2015 | 2016 | 2017 | 2018 | 2019 | |
---|---|---|---|---|---|
Unemployment Rate | 6.1 | 5.7 | 5.6 | 5.3 | 5.2 |
Australia Unemployment Chart

Source: Australia Bureau of Statistics and FocusEconomics calculations.
Australia Facts
Value | Change | Date | |
---|---|---|---|
Bond Yield | 1.37 | 1.47 % | Dec 31 |
Exchange Rate | 0.70 | 0.05 % | Dec 31 |
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Economic News
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Australia: Consumer sentiment weakens in August
August 9, 2022
The Westpac-Melbourne Institute consumer sentiment index decreased to 81.2 in August from 83.8 in July, marking the lowest reading since August 2020.
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Australia: Business confidence strengthens in July
August 9, 2022
The business confidence index produced by National Australia Bank (NAB) rose to 7.0 points in July from 1..4 points in June.
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Australia: Retail sales growth eases in June
August 3, 2022
Retail sales growth expanded 0.2% in month-on-month seasonally-adjusted terms in June, down from May’s 0.7% increase. Looking at the details of the release, household goods and department store sales fell in June, as did food retailing.
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Australia: RBA hikes rate further in August; hints at further hikes ahead
August 3, 2022
At its monetary policy meeting on 2 August, the Reserve Bank of Australia (RBA) hiked the official cash rate (OCR) from 1.35% to 1.85%, as had been widely expected by markets.
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Australia: Inflation at over three-decades high in Q2
July 28, 2022
In the second quarter of 2022, consumer prices soared 1.8% over the previous quarter, following Q1’s 2.1% jump.