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.

Unemployment Rate in Australia averaged 6.80 percent from 1978 until 2020, 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 August of 2020. source: Australian Bureau of Statistics

Unemployment Rate in Australia is expected to be 8.20 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 7.90 in 12 months time. In the long-term, the Australia Unemployment Rate is projected to trend around 7.30 percent in 2021 and 6.30 percent in 2022, according to our econometric models.

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Australia Unemployment Rate

Actual Previous Highest Lowest Dates Unit Frequency
7.40 7.10 11.20 4.00 1978 - 2020 percent Monthly
SA


Calendar GMT Actual Previous Consensus TEForecast
2020-04-16 01:30 AM Mar 5.2% 5.1% 5.5% 5.5%
2020-05-14 01:30 AM Apr 6.2% 5.2% 8.3% 9%
2020-06-18 01:30 AM May 7.1% 6.4% 7% 6.9%
2020-07-16 01:30 AM Jun 7.4% 7.1% 7.4% 7.5%
2020-08-13 01:30 AM Jul 7.4% 7.8% 7.7%
2020-09-19 01:30 AM Aug
2020-10-17 12:30 AM Sep 8.2%
2020-11-14 12:30 AM Oct


News Stream
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.
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.
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.
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.
2020-04-16

Australia Unemployment Rate
In Australia, the unemployment rate measures the number of people actively looking for a job as a percentage of the labour force.