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. source: Australian Bureau of Statistics
Unemployment Rate in Australia averaged 6.79 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 June of 2021.
Unemployment Rate in Australia is expected to be 5.50 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 4.80 in 12 months time. In the long-term, the Australia Unemployment Rate is projected to trend around 4.50 percent in 2022 and 4.00 percent in 2023, according to our econometric models.