Australia's seasonally adjusted unemployment rate unexpectedly rose to 3.7% in April 2023, marking a slight increase from the previous months and deviating from market expectations of 3.5 percent. The number of unemployed individuals increased by 18,400 to reach 528,000, while employment declined by 4,300, reaching a total of 13.88 million. This represents the first decrease in employment over the past three months, falling short of market forecasts that predicted a 25,000 rise. The participation rate saw a slight decrease from 66.8% to 66.7%, aligning with market consensus. The underemployment rate, which indicates the number of individuals seeking additional work or longer hours, decreased slightly from 6.2% to 6.1%. In terms of overall working hours, there was an increase of 29 million or 2.6% in monthly hours across all jobs, reaching a total of 1,974 million. source: Australian Bureau of Statistics

Unemployment Rate in Australia averaged 6.67 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 October 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 June of 2023.

Unemployment Rate in Australia is expected to be 3.50 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.

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Australia Unemployment Rate



Calendar GMT Actual Previous Consensus TEForecast
2023-04-13 01:30 AM Mar 3.5% 3.5% 3.6% 3.5%
2023-05-18 01:30 AM Apr 3.7% 3.5% 3.5% 3.5%
2023-06-15 01:30 AM May 3.7% 3.7% 3.7%


Related Last Previous Unit Reference
Unemployment Rate 3.70 3.50 percent Apr 2023
Unemployed Persons 528.01 509.63 Thousand Apr 2023
Employed Persons 13882.13 13886.42 Thousand Apr 2023
Part Time Employment 22834.00 -21350.00 Persons Apr 2023
Full Time Employment -27132.00 82472.00 Persons Apr 2023
Employment Change -4300.00 61100.00 Persons Apr 2023
Labor Force Participation Rate 66.70 66.80 percent Apr 2023
Youth Unemployment Rate 8.60 7.80 percent Apr 2023
Productivity 98.20 99.60 points Dec 2022
Labour Costs 112.60 110.70 points Dec 2022
Job Vacancies 438.50 445.10 Thousand Mar 2023
Wages 1378.60 1344.70 AUD/Week Dec 2022
Wage Growth 3.70 3.40 percent Mar 2023
Wages in Manufacturing 1545.60 1464.50 AUD/Week Dec 2022
Population 25.77 25.68 Million Dec 2021
Employment Rate 64.20 64.40 percent Apr 2023

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.
Actual Previous Highest Lowest Dates Unit Frequency
3.70 3.50 11.20 3.40 1978 - 2023 percent Monthly
SA

News Stream
Australia Jobless Rate Unexpectedly Rises
Australia's seasonally adjusted unemployment rate unexpectedly rose to 3.7% in April 2023, marking a slight increase from the previous months and deviating from market expectations of 3.5 percent. The number of unemployed individuals increased by 18,400 to reach 528,000, while employment declined by 4,300, reaching a total of 13.88 million. This represents the first decrease in employment over the past three months, falling short of market forecasts that predicted a 25,000 rise. The participation rate saw a slight decrease from 66.8% to 66.7%, aligning with market consensus. The underemployment rate, which indicates the number of individuals seeking additional work or longer hours, decreased slightly from 6.2% to 6.1%. In terms of overall working hours, there was an increase of 29 million or 2.6% in monthly hours across all jobs, reaching a total of 1,974 million.
2023-05-18
Australia Jobless Rate Unchanged at 3.5%
Australia's seasonally adjusted unemployment rate stood at 3.5% in March 2023, unchanged from February's near 50-year low but below market estimates of 3.6%. The number of unemployed declined by 1,600 to 507,000, as people sought full-time jobs fell by 3,100 to 339.200 while those looking for part-time jobs climbed by 1,400 to 167,800. At the same time, employment increased by 53,000 to 13.88 million, the second straight month of increase, easily beating market forecasts of a 20,000 gain. Full-time employment rose by 72,200 to 9,748,900, while part-time fell by 19,200 to 4,135,600. The participation rate was unchanged at 66.7%, above the consensus of 66.6%. The underemployment rate increased to 6.2% from 5.8%. Monthly hours in all jobs dropped by 3 million or 0.2% to 1,914 million.
2023-04-13
Australia Jobless Rate Below Forecasts
Australia's seasonally adjusted unemployment rate declined to 3.5% in February 2023 from January's eight-month high of 3.7% and below market estimates of 3.6%, as the number of unemployed decreased by 16,500 to 507,500. People looking for full-time jobs dropped by 4,800 to 341,500, and those seeking part-time jobs - by 11,700 to 166.000. At the same time, employment climbed by 64,600 to 13.83 million, the first increase in three months, more than forecasts of a 48,500 gain. Full-time employment rose by 74,900 to 9,669,300, while part-time fell by 10,300 to 4,156,900. The participation rate inched up to 66.6% from 66.5% in January. The underemployment rate went down to 5.8% from 6.2%, while the underutilization declined to 9.4% from 9.8%. Monthly hours in all jobs increased by 72 million or 3.9% to 1,917 million.
2023-03-16