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Australia Jobless Rate Drops to 17-Month Low
Australia's seasonally adjusted unemployment unexpectedly was at 5.1% in May 2021, compared with market consensus and April's figure of 5.5%. This was the seventh straight month of fall in the jobless rate and the lowest reading since February 2020, as the economy recovered further from the COVID-19 hit. The number of unemployed declined 53,000 to 701.1 thousand, as people looking for full-time work was down by 36,100 to 491,500 and those looking for only part-time work fell 18,900 to 209,600. Meantime, employment grew 115,200 to 13.12 million, easily beating forecasts of a 30,000 gain, with part-time employment rising 97,500 and full-time employment expanding 17,700. The participation rate rose 0.3 points to 66.2 percent to a six-month low of 65.9%, above forecasts of 66.1%. The underemployment rate fell 0.3 points to 7.4%, and the underutilization rate decreased 0.7 points to 12.5%. Monthly hours worked in all jobs went up 25 million, or 1.4%, to 1,814 million hours.
Published on 2021-06-17

Australia Jobless Rate Falls to 13-Month Low
Australia's seasonally adjusted unemployment unexpectedly was at 5.5 percent in April 2021, compared with market consensus and the prior months's figure of 5.6 percent. This was the lowest jobless rate since March 2020, as the economy recovered further from the COVID-19 hit. The number of unemployed declined 33,600 to 756.2 thousand, as people looking for full-time work was down by 26,000 to 527,100 and those looking for only part-time work fell 7,500 to 229,200. Also, employment unexpectedly fell 30,600 to 13.04 million, missing forecasts of a 15,000 gain, with part-time employment decreasing 74,400 while full-time employment rising by 33,800. The participation rate unexpectedly dropped 0.3 points to a six-month low of 66.0 percent, missing forecasts of 66.3 percent. The underemployment rate fell 0.2 points to 7.8 percent, and the underutilization rate decreased 0.4 points to 13.3 percent. Monthly hours worked in all jobs fell 13 million, or 0.7%, to 1,793 million hours.
Published on 2021-05-20

Australia Jobless Rate Lowest in a Year
Australia's seasonally adjusted unemployment rate fell to 5.6 percent in March 2021, the lowest in a year and slightly below market consensus of 5.7 percent, as the economy recovered further from the disruption caused by COVID-19. The number of unemployed declined 27,100 to 778.1 thousand, while employment grew 70,700 to a record high of 13.078 million, easily beating market forecasts of a 35,000 increase, with part-time employment advancing 91,500 and full-time employment falling by 20,800. The participation rate unexpectedly rose 0.2 points to a record peak of 66.3 percent, also beating forecasts of 66.1 percent. The underemployment rate dropped 0.6 points to 7.9 percent, and the underutilization rate decreased 0.8 points to 13.5 percent. Monthly hours worked in all jobs were higher than March 2020, for the first time during the COVID period.
Published on 2021-04-15

Australia Jobless Rate Falls to 11-Month Low
Australia's seasonally adjusted unemployment rate fell to 5.8% in February 2021 from 6.4% a month earlier and below market consensus of 6.3%. This was the lowest jobless rate since March 2020, as the economy recovered further from the disruption caused by the COVID-19 shocks. The number of unemployed declined by 69,900 to 805,200 people, as people looking for full-time work was down by 39,800 to 576,700 and those looking for only part-time work decreased by 30,100 to 228,500. Employment grew by 88,700 to a one-year high of 13,006,900, easily beating market estimates of an increase of 30,000, as full-time employment went up by 89,100 to 8,895,000, while part-time employment dropped 500 to 4,111,900. The participation rate stayed at 66.1% and below forecasts of 66.2%. The underemployment rate rose 0.4 points to 8.5%, and the underutilization rate fell 0.1 points to 14.4%. Monthly hours worked in all jobs gained 102 million hours, or 6.1% to 1,767 million hours.
Published on 2021-03-18

Australia Jobless Rate Drops to 9-Month Low
Australia's seasonally adjusted unemployment rate fell to 6.4% in January of 2021 from 6.6% a month earlier and below market consensus of 6.5%. This was the lowest jobless rate since April, as the economy emerged gradually from the COVID-19 shocks. The number of unemployed declined by 34,300 to 877,600 people, as people looking for full-time work was down by 40,300 to 618,400 and those looking for only part-time work decreased by 5,900 to 259,200. Employment grew by 29,100 to 12,939,900, missing market estimates of an increase of 40,000, as full-time employment went up by 59,000 to 8,820,400, while part-time employment dropped 29,800 to 4,119,500. The participation rate was at 66.1%, compared with forecasts and December's 16-month high of 66.2%. The underemployment rate fell 0.4 points to 8.1%, and the underutilization rate dropped 0.6 points to 14.5%. Monthly hours worked in all jobs fell 86 million hours, or 4.9% to 1,667 million hours.
Published on 2021-02-18

Australia Jobless Rate Drops to 8-Month Low
Australia's seasonally adjusted unemployment rate fell to 6.6% in December 2020 from 6.8% a month earlier and below market consensus of 6.7%. This was the lowest jobless rate since April, as the economy emerged gradually from the COVID-19 shocks. The number of unemployed declined by 30,100 to 912,000 people, as people looking for full-time work was down by 14,300 to 658,700 and those looking for only part-time work declined by 15,800 to 253,300. Employment grew by 50,000 to 12,910,800, matching market estimates, as full-time employment went up by 35,700 to 8,761,400, and part-time employment gained 14,300 to 4,149,300. The participation rate edged up to a 16-month high of 66.2% in December from 66.1% in November, in line with forecasts. The underemployment rate fell to 0.8 points to 8.5%, and the underutilization rate dropped 1.1 points to 15.1%. Monthly hours worked in all jobs rose 2 million hours, or 0.1% to 1,753 million hours.
Published on 2021-01-21

Australia Jobless Rate Unexpectedly Falls
Australia's seasonally adjusted unemployment rate unexpectedly was at 6.8% in November 2020, compared with market consensus and October's figure of 7%. This was the lowest jobless rate since August, as the economy emerged gradually from the COVID-19 hit. The number of unemployed declined by 17,300 to 942,100 people, as people looking for full-time work was down by 11,400 to 673,000 and those looking for only part-time work rose by 5,900 to 269,100. Employment grew by 90,000 to 12,860,700, beating estimates of a 50,000 gain, as full-time employment went up by 84,200 to 8,725,700, and part-time employment gained 5,800 to 4,135,000. The participation rate rose to a ten-month high of 66.1% in November from 65.8% in October, above forecasts of 66%. The underemployment rate fell to 9.4% from 10.4% in the prior month, and the underutilization rate dropped 1.2 points to 16.2%. Monthly hours worked in all jobs rose 42.8 million hours, or 2.5% to 1,752 million hours.
Published on 2020-12-17

Australia Jobless Rate Rises Less than Expected in October
Australia's seasonally adjusted unemployment rate edged up to 7% in October 2020 from 6.9% in September but below market consensus of 7.2%. This was the highest jobless rate since July, amid the prolonged COVID-19 crisis. The number of unemployed increased by 25,500 to 960,900 people, as people looking for full-time work was down by 16,000 to 684,800 and those looking for only part-time work advanced 41,500 to 276,100. Employment soared by 178,800 to 12,773,900, beating estimates of a 30,000 fall, as full-time employment went up by 97,000 to 8,643,700, and part-time employment gained 81,800 to 4,130,200. The participation rate rose to a seven-month high of 65.8% in October from an upwardly revised 64.9% in September, above forecasts of 64.7%. The underemployment rate fell to 10.4% from 11.4% in the prior month, and the underutilization rate dropped 0.9 points to 17.4%. Monthly hours worked in all jobs rose 20.6 million hours, or 1.2% to 1,711 million hours.
Published on 2020-11-19

Australia Jobless Rate Rises Below Estimates in September
Australia's seasonally adjusted unemployment rate edged up to 6.9% in September 2020 from 6.8% in August but below market consensus of 7.1%, amid the coronavirus crisis. The number of unemployed increased by 11,300 to 937,400 people, as people looking for full-time work went up by 8,900 to 703,200 and those looking for only part-time work rose by 2,300 to 234,200. Employment fell by 29,500 to 12,571,900, less than estimates of a 35,000 decrease, as full-time employment dropped by 20,100 to 8,540,300, and part-time employment declined by 9,400 to 4,031,700. The participation rate inched down to 64.8% in September from a five-month high of 64.9% in August, in line with forecasts. The underemployment rate ticked higher to 11.4% from 11.3% in August, and the underutilization rate rose 0.2 points to 18.3%. Monthly hours worked in all jobs gained 8.7 million hours, or 0.5% to 1,688 million hours.
Published on 2020-10-15

Australia Jobless Rate Unexpectedly Drops in August
Australia's seasonally adjusted unemployment rate unexpectedly fell to 6.8% in August 2020 from a near 22-year high of 7.5% in July and below market consensus of 7.7%. This was the lowest jobless rate since April as COVID-19 restrictions eased across most states. The number of unemployed declined by 86,500 to 921,800 people. People looking for full-time work fell by 40,300 to 689,600 and those looking for only part-time work dropped by 46,200 to 232,200. Employment rose by 111,000 to 12,583,400, beating estimates of a 50,000 decrease, as full-time employment went up by 36,200 to 8,584,500, and part-time employment advanced by 74,800 to 3,998,900. The participation rate rose to a five-month high of 64.8%, above forecasts of 64.7%. The underemployment rate was steady at 11.2%, and the underutilization rate declined 0.7 points to 18%. Monthly hours worked in all jobs rose 1.6 million hours, or 1.6% to 1,683.4 million hours.
Published on 2020-09-17

Australia Jobless Rate Highest Since 1998
Australia's seasonally adjusted unemployment rate edged up to 7.5% in July 2020 from 7.4% in June and compared with market consensus of 7.8%. This was the highest jobless rate since November 1998, amid the severe impact of the COVID-19 crisis. The number of unemployed increased by 15,700 to 1,009,400 people. People looking for only part-time work grew 18,400 to 278,800, while those looking for full-time work fell by 2,700 to 730,600. Employment rose 114,700 to 12,460,800, beating estimates of a 40,000 rise, as full-time employment gained 43,500 to 8,547,100, and part-time employment went up by 71,200 to 3,913,600. The participation rate rose to a four-month high of 64.7%, above forecasts of 63.4%. The underemployment rate fell 0.5 points to 11.2%, and the underutilization rate declined 0.4 points to 18.7%. Monthly hours worked in all jobs rose 21.7 million hours, or 5% to 1,681.3 million hours.
Published on 2020-08-13

Australia Jobless Rate Highest Since 1998
Australia's seasonally adjusted unemployment rate surged to 7.4% in June 2020 from 7.1% in May, in line with market expectations. It was the highest jobless rate since November 1998, as public health measures to contain the COVID-19 crisis took a huge toll on the economy, including the labor market. The number of unemployed soared 69,300 to an all-time high of 992,300. People looking for full-time rose by 38,000 to 731,600 and those looking for only part-time work went up 31,300 to 260,700. Employment increased 210,800 to 12,328,500, beating estimates of a 112,000 rise, as part-time employment went up by 249,000 to 3,839,400, while full-time employment dropped by 38,100 to 8,489,100. The participation rate rose to a 3-month high of 64%, above forecasts of 63.6%. The underemployment rate was down 1.4 points to 11.7%, and the underutilization rate declined 1 point to 19.1%. Monthly hours worked in all jobs rose 64.3 million hours, or 4% to 1,664.7 million hours.
Published on 2020-07-16

Australia Jobless Rate Highest in 19 Years
Australia's seasonally adjusted unemployment rate jumped to 7.1% in May 2020 from an upwardly revised 6.4% in April and compared with market consensus of 7%. It was the highest jobless rate since October 2001, amid business closures and lockdowns due to the COVID-19 pandemic. The number of unemployed soared by 85,700 to an over 26-year high of 927,600. People looking for full-time rose by 60,400 to 695,900 and those looking for only part-time work went up 25,200 to 231,700. Employment fell by 227,700 to 12,154,100, compared with estimates of a 125,000 fall, as full-time employment dropped by 89,100 to 8,540,000, while part-time employment was down by 138,600 to 3,614,100. The participation rate fell to 62.9%, the lowest since January 2001. The underemployment rate was down 0.7 points to 13.1%, and the underutilization rate was up less than 0.1 points to an all-time high of 20.2%. Monthly hours worked in all jobs fell by 12.1 million hours, or 12.1% to 1,604.7 million hours.
Published on 2020-06-18

Australia Jobless Rate Highest Since 2015
Australia's seasonally adjusted unemployment rate jumped to 6.2% in April 2020 from 5.2% in March, but below market expectations of 8.3%. It was the highest jobless rate since September 2015, amid business closures and lockdowns due to the coronavirus pandemic. The number of unemployed surged by 104,500 to 823,300. People looking for full-time rose by 115,000 to 622,300, while those looking for only part-time work fell by 10,600 to 200,900. Employment tumbled by 594,300, the largest drop on record, to 12,418,700, compared with estimates of a 575,000 fall, as full-time employment dropped by 220,500 to 8,656,900, and part-time employment declined by 373,800 to 3,761,800. The participation rate fell to an over 15-year low of 63.5%. The underemployment rate rose 4.9 points to a record of 13.7%, and the underutilization rate increased 5.9 points to an all-time high of 19.9%. Monthly hours worked in all jobs fell 163.9 million hours, or 8% to 1,625.8 million hours.
Published on 2020-05-14

Australia Jobless Rate Below Estimates
Australia's seasonally adjusted unemployment rate edged up to 5.2% in March 2020 from 5.1% in February and below market expectations of 5.5%. The ABS warned that figures did not capture the full impact of the coronavirus as the reference weeks covered the first half of March, before lockdown measures. The number of unemployed people rose by 20,300 to 718,600. People looking for full-time increased by 31,400 to 505,500, while those looking for only part-time work dropped 11,100 to 213,100. Employment rose by 5,900 to 13,017,600 and easily beating estimates of a 40,000 fall, as part-time employment went up by 6,400 to 4,135,400, while full-time employment declined by 400 to 8,882,200. Meantime, the participation rate was unchanged at 66%, above forecasts of 65.9%. The underemployment rate was up 0.1 points to 8.7%, and the underutilization rate ticked up 0.1 points to 13.9%. Monthly hours worked in all jobs increased by 8.6 million hours, or 0.5% to 1,784.9 million hours.
Published on 2020-04-16

Australia Jobless Rate Unexpectedly Falls in February
Australia's seasonally adjusted unemployment rate fell to 5.1 percent in February 2020 from 5.3 percent in the previous month and below market expectations of 5.3 percent. The number of unemployed people dropped by 26,400, while employment rose by 26,700. People looking for full-time declined by 34,000 to 468,300 and those looking for only part-time work increased 7,900 to 220,400. Employment rose by 26,700 to 13,015,100 and easily beating estimates of a 10,000 gain, as full-time employment grew by 13,300 to 8,885,600, and part-time employment went up by 7,800 to 4,124,500. Meantime, the participation rate edged down 0.1 points to 66 percent, below forecasts of 66.1 percent. The underemployment rate was steady at 8.6 percent, and the underutilisation rate fell 0.2 points to 13.7 percent. Monthly hours worked in all jobs dropped by 3 million hours, or 0.2 percent to 1,775.4 million hours.
Published on 2020-03-19

Australia Jobless Rate Above Forecasts
Australia's seasonally adjusted unemployment rate rose to 5.3% in January 2020 from 5.1% in the previous month, above market expectations of 5.2%. It was the highest jobless rate since October last year, as the number of unemployed people increased by 31,000 to 725,900. People looking for full-time work went up by 19,600 to 508,500 and those looking for only part-time work increased 11,400 to 217,400. Employment rose by 13,500 to 12,995,400 and above estimates of a 10,000 gain. Full-time employment grew 46,200 to 8,882,200, while part-time employment dropped 32,700 to 4,113,300. Meantime, the participation rate edged up 0.1 points to 66.1%, the highest in four months and slightly above forecasts of 66%. The underemployment rate rose to 8.6% in January from 8.3% in December, while the underutilisation rate went up 0.5 points to 13.9%. Monthly hours worked in all jobs fell by 8.1 million hours, or 0.4% to 1,781.8 million hours.
Published on 2020-02-20

Australia Jobless Rate Unexpectedly Falls to 9-Month Low
Australia's seasonally adjusted unemployment rate fell to 5.1 percent in December 2019 from 5.2 percent in the previous month and below market expectations of 5.2 percent. It is the lowest jobless rate since March, as the number of unemployed people fell by 12,900 to 693,100 while employment rose by 28,900 to 12,981,600. Part-time employment increased by 29,200 to 4,146,900 people while full-time employment dropped by 300 to 8,834,700. Meantime, the participation rate was unchanged at 66.0 percent, remaining at its lowest level since June and matching forecasts. The underemployment rate was at 8.3 percent in December, the same as in the prior month while the underutilisation rate dropped 0.1 points to 13.4 percent. Monthly hours worked in all jobs went up by 8.2 million hours, or 0.5 percent to 1,791.1 million hours.
Published on 2020-01-23

Australia Jobless Rate Unexpectedly Falls
Australia's seasonally adjusted unemployment rate edged down to 5.2 percent in November 2019 from 5.3 percent in the previous month, and slightly below market forecasts of 5.3 percent. The number of unemployed fell by 16,800 while employment rose by 39,900.
Published on 2019-12-19

Australia Jobless Rate Inches Higher to 5.3% in October
Australia's seasonally adjusted unemployment rate rose to 5.3 percent in October 2019 from 5.2 percent in the previous month and matching market expectations. The number of unemployed increased by 17,100 while employment unexpected fell for the first time in 17 months (-19,000).
Published on 2019-11-14