Employment

Seasonally adjusted employment declined 6.6k in March, against market expectations of a 10.0k gain. The supersized February increase was revised slightly upwards to 117.6k against the initially estimated 116.5k.

Employment surged a seasonally adjusted 116.5k in February, significantly more than the 40.0k pencilled in by the market consensus. The seasonally adjusted unemployment rate dropped 0.4ppts to 3.7%. Western Australia saw the strongest percentage gain in employment of all states, both in monthly (1.7%) and annual terms (4.9%).

Employment rose by a seasonally adjusted 0.5k in January, following a 62.7k slump in December. The January increase was a large disappointment for market participants, who expected a 25.0k gain. The unemployment rate rose to a two-year high of 4.1%, but this is still low by historical standards.

Employment slumped 65.1k in December but the unemployment rate was steady at 3.9% (exp. 3.9%), as the decline in employment was matched by a 65.9k fall in the labour force that pushed the participation rate down to a three-month low of 66.8%, from a record high of 67.3% in November

Employment surged by 61.5k in November, significantly exceeding the market expectations of a 11.5k gain. The unemployment rate increased 0.1ppts to 3.9% (mkt exp. 3.8%). Western Australia was the only mainland state that saw a decline in the unemployment rate in November, as the rise in employment more than offset higher labour force numbers.

Employment surged by 55.0k in October, over double the 24.0k consensus. The second week of the October labour force survey fortnight coincided with the run-up to the referendum on 14 October. The unemployment rate rose back to 3.7%, in line with the market expectations.