Unemployment in Australia
Australia - Unemployment
Labor market starts new year on a strong note
Seasonally-adjusted employment increased by 39,100 in January from the previous month, following the revised 16,900 jobs added in December (previously reported: +21,600 jobs) and easily overshooting analysts’ expectations of a gain of 15,000. January’s reading was driven by a surge in full-time workers which more than offset a decline in part-time workers.
Seasonally-adjusted unemployment remained at December’s 5.0% in January, the lowest reading in over seven years. Moreover, the seasonally-adjusted underemployment rate edged down from 8.3% in the previous month to 8.1% in January. Additionally, January saw an increase in the seasonally-adjusted participation rate, which inched up from 65.6% in December to 65.7%.
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
| 2013 | 2014 | 2015 | 2016 | 2017 | |
|---|---|---|---|---|---|
| Unemployment Rate | 5.7 | 6.1 | 6.1 | 5.7 | 5.6 |
Australia Unemployment Chart
Source: Australia Bureau of Statistics and FocusEconomics calculations.
Australia Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 2.03 | 1.47 % | Mar 11 |
| Exchange Rate | 0.70 | 0.05 % | Mar 11 |
| Stock Market | 6,263 | 0.08 % | Mar 11 |
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Economic News
Australia: Consumer sentiment moves to pessimistic territory in March following a disappointing Q4 2018
March 13, 2019
The Westpac-Melbourne Institute consumer sentiment index fell from 103.8 in February to 99.8 in March, marking the worst reading in one year and a half.
Australia: Business confidence at over three-year low in February
March 12, 2019
The business confidence index produced by National Australia Bank (NAB) fell to 2.0 points in February from 3.6 points in January.
Australia: Weak start to the year for consumers
March 7, 2019
Nominal retail sales in January rose 0.1% over the previous month in seasonally-adjusted terms, contrasting December’s 0.4% contraction.
Australia: Growth slows further in Q4 on shrinking private investment and falling exports
March 6, 2019
Australia’s economy slowed further in the fourth quarter, dragged down by notable contractions in fixed investment and foreign sales, according to figures released by the Australian Bureau of Statistics (ABS) on 6 March.
Australia: RBA stands pat in March
March 5, 2019
At its 5 March 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.
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