Australia's seasonally adjusted unemployment rate stood at an unexpected 3.5% in December 2022, unchanged from an upwardly revised figure in November and compared with market estimates of 3.4%. The latest print remained near five-decade lows, as the number of unemployed increased by 5,800 to 499,800. People looking for full-time jobs rose by 1,400 to 326,100, and those seeking part-time jobs - by 4,400 to 173.600. At the same time, employment fell by 14,600 to 13.75 million, the first drop since July, missing forecasts of a 22,500 growth. Part-time employment declined by 32,200 to 4,128,100, and full-time employment surged by 17,600 to 9,619,000. The participation rate slid to 66.6% from a record high of 66.8% in November. The underemployment rate went up to 6.1% from 5.8%, while the underutilization climbed to 9.6% from 9.3%. Monthly hours worked in all jobs shrank by 9 million or 0.5% to 1,888 million. source: Australian Bureau of Statistics
Unemployment Rate in Australia averaged 6.70 percent from 1978 until 2022, 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 January of 2023.
Unemployment Rate in Australia is expected to be 3.60 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations.