Australia's seasonally adjusted unemployment rate fell to 6.4% in January 2020 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. source: Australian Bureau of Statistics
Unemployment Rate in Australia averaged 6.80 percent from 1978 until 2021, reaching an all time high of 11.20 percent in December of 1992 and a record low of 4 percent in February of 2008. This page provides - Australia Unemployment Rate at 5.8% in December - actual values, historical data, forecast, chart, statistics, economic calendar and news. Australia Unemployment Rate - data, historical chart, forecasts and calendar of releases - was last updated on March of 2021.
Unemployment Rate in Australia is expected to be 6.40 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Unemployment Rate in Australia to stand at 6.00 in 12 months time. In the long-term, the Australia Unemployment Rate is projected to trend around 5.90 percent in 2022, according to our econometric models.