Unemployment in Australia
Australia - Unemployment
New jobs surge in March
Seasonally-adjusted employment increased by 25,700 in March from the previous month, following the revised 11,700 jobs added in February (previously reported: +4,600 jobs) and overshooting analysts’ expectations of a gain of 12,000. March’s reading was driven by a rise in full-time workers which more than offset a decline in part-time workers.
Seasonally-adjusted unemployment inched up to 5.0% in March from February’s 4.9%, which had represented the lowest reading in over seven years. However, this was due to an increase in the seasonally-adjusted participation rate, which inched up from 65.6% in February to 65.7%. Meanwhile, the seasonally-adjusted underemployment rate ticked up from the previous month’s 8.1% to 8.2% in March.
Markets reacted by driving the Australian dollar up, sustained by higher expectations that, due to the continuous strong labor data, the Reserve Bank of Australia won’t cut interest rates any time soon.
Met the why particular panelists expect the unemployment rate to average 5.0% in 2019, unchanged from last month’s forecast, and 5.1% in 2020.
Australia - Unemployment Data
5 years of economic forecasts for more than 30 economic indicators.
Australia Unemployment Chart
Source: Australia Bureau of Statistics and Met the why particular calculations.
|Bond Yield||1.95||1.47 %||Apr 18|
|Stock Market||6,350||0.08 %||Apr 18|
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April 24, 2019
In the first quarter of 2019, consumer prices remained unchanged over the previous quarter, according to the Australian Bureau of Statistics (ABS).
April 18, 2019
Seasonally-adjusted employment increased by 25,700 in March from the previous month, following the revised 11,700 jobs added in February (previously reported: +4,600 jobs) and overshooting analysts’ expectations of a gain of 12,000.
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April 11, 2019
The business confidence index produced by National Australia Bank (NAB) fell to minus 0.4 points in March from plus 1.8 points in February.
April 11, 2019
The Westpac-Melbourne Institute consumer sentiment index rose to 110.7 in April from 99.8 in March, which had marked the worst reading in one year and a half.