Employment

Seasonally adjusted employment surged by 40.3k in May, somewhat more than the 32.5k rise pencilled in by the market consensus and the most so far in 2026. The surge in employment in May followed a 40.7k plunge in the previous month, which turned out to be significantly deeper than the 18.6k fall estimated initially.

Seasonally adjusted employment declined by 18.6k in April, against the market expectations of a moderate 15.0k gain. The seasonally adjusted unemployment rate rose by 0.2ppts to 4.5% in April, which is the highest since November 2021. The survey was carried out during the Easter period using an altered methodology, which could have impacted the results to some extent.

Australian employment growth slowed to 17.9k in March (exp. 20.0k), following a 49.7k increase in February (revised from 48.9k). Annual employment growth was steady at 1.8%. Growth in March was driven by full-time jobs, while part-time employment fell.

Employment surged by 48.9k in February, more than twice what was pencilled in by the market consensus (+20.0k).

Employment rose a seasonally adjusted 17.8k in January, broadly in line with market expectations for a 20.0k gain. The seasonally adjusted unemployment rate unexpectedly remained at 4.1% in January. The Western Australian unemployment rate, at 3.4%, is the lowest nationwide

Seasonally adjusted employment bounced by 65.2k in December, exceeding market expectations of a 27.0k gain. The seasonally adjusted unemployment rate saw an unexpected 0.2ppts decline to a seven-month low of 4.1%.