Economic Indicators


A snapshot of employment and participation within the Australian labour force.

This note provides commentary and analysis on the monthly labour force survey data, which estimates Australian employment, unemployment, underemployment, labour participation and hours worked.

  • 13 Jun 2024 Labour Force May 2024

    Employment rose by 39.7k in May, somewhat more than the 30.0k expected by market participants. This followed a downwardly revised 37.4k gain in April (originally 38.5k). The annual rate of employment growth decelerated back to 2.5%.

  • 16 May 2024 Employment April 2024

    Seasonally adjusted employment bounced back 38.5k in April following a 5.9k fall in March (revised from -6.6k). The consensus market expectation had been for a 23.7k increase.

  • 18 Apr 2024 Employment March 2024

    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.

  • 21 Mar 2024 Employment February 2024

    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%).

  • 15 Feb 2024 Employment January 2024

    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.

  • 18 Jan 2024 Employment December 2023

    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

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