Australia's seasonally adjusted unemployment increased to 3.7% in July from 3.5% in the previous month, above market expectations of 3.6%, and pointing to the highest level since April. The number of unemployed individuals rose by 35.6 thousand to 541 thousand, as people looking for full-time jobs climbed by 21.9 thousand to 349.5 thousand while those seeking part-time jobs - by 13.8 thousand to 191.5 thousand. At the same time, employment unexpectedly fell by 14.6 thousand to 14.03 million, missing market forecasts of a 15 thousand gain, reversing from a 31.6 thousand jump in June. Full-time employment declined by 24.2 thousand to 9.84 million, while part-time employment advanced by 9.6 thousand to 4.19 million. The participation rate inched down to 66.7% from 66.8% in June, below the market consensus of 66.8%. Meanwhile, the underemployment rate was unchanged at 6.4%. Additionally, monthly hours in all jobs increased by 4 million, or 0.2 percent, to 1,952 million. source: Australian Bureau of Statistics
Unemployment Rate in Australia averaged 6.66 percent from 1978 until 2023, reaching an all time high of 11.20 percent in December of 1992 and a record low of 3.40 percent in July of 2022. 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 2023.
Unemployment Rate in Australia is expected to be 3.70 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Australia Unemployment Rate is projected to trend around 5.10 percent in 2024 and 4.90 percent in 2025, according to our econometric models.