Australia's seasonally adjusted unemployment rate dropped to 4.9% in June 2021 from 5.1% in May and compared with market consensus of 5%. This was the eighth straight month of fall in the jobless rate and the lowest reading since June 2011, as the economy recovered further from the COVID-19 hit. The number of unemployed declined 22,000 to 679.1 thousand, as people looking for full-time work decreased 31,400 to 460,100, and those looking for only part-time added 9,400 to 219,000. Meantime, employment grew 29,100 to 13.15 million, compared with forecasts of a 30,000 gain, with full-time employment rising 51,600 while part-time employment falling 22,200. The participation rate was unchanged at 66.2 percent, below estimates of 66.3%. The underemployment rate rose 0.5 points to 7.9%, and the underutilization rate gained 0.3 points to 12.8%. Monthly hours worked in all jobs went down 33 million, or 1.8%, to 1,781 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 August of 2021.
Unemployment Rate in Australia is expected to be 5.00 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.