Australia's seasonally adjusted unemployment rate fell to 5.6 percent in March 2021, the lowest in a year and slightly below market consensus of 5.7 percent, as the economy recovered further from the disruption caused by COVID-19. The number of unemployed declined 27,100 to 778.1 thousand, while employment grew 70,700 to a record high of 13.078 million, easily beating market forecasts of a 35,000 increase, with part-time employment advancing 91,500 and full-time employment falling by 20,800. The participation rate unexpectedly rose 0.2 points to a record peak of 66.3 percent, also beating forecasts of 66.1 percent. The underemployment rate dropped 0.6 points to 7.9 percent, and the underutilization rate decreased 0.8 points to 13.5 percent. Monthly hours worked in all jobs were higher than March 2020, for the first time during the COVID period. source: Australian Bureau of Statistics
Unemployment Rate in Australia averaged 6.80 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 May of 2021.
Unemployment Rate in Australia is expected to be 5.50 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 5.80 in 12 months time. In the long-term, the Australia Unemployment Rate is projected to trend around 5.50 percent in 2022 and 5.00 percent in 2023, according to our econometric models.