Economic Indicators

Employment

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.

  • 16 Mar 2023 Employment - February 2023

    Employment surged a seasonally adjusted 64.6k in February, more than the 49.1k expected by the markets. The unemployment rate declined 0.2ppts to 3.5% (mkt exp: 3.6%), to be back at the December 2022 level.

  • 16 Feb 2023 Employment - January 2023

    Employment declined a seasonally adjusted 11.5k in January, against the market expectations of a 20.0k gain. This followed a 20.0k drop in December (revised from -14.6k).

  • 19 Jan 2023 Employment - December 2022

    Employment fell a seasonally adjusted 14.6k in December, against the market expectations of a 25.0k gain. The unemployment rate was unchanged from the upwardly revised 3.5% for November.

  • 15 Dec 2022 Employment - November 2022

    Employment rose a seasonally adjusted 64.0k in November, much more than the 17.0k expected by market participants. The unemployment rate remained at an equal monthly series low of 3.4% in seasonally adjusted terms. The underutilisation rate, which combines unemployment and underemployment, fell to a 40-year low of 9.2%.

  • 17 Nov 2022 Employment - October 2022

    Employment rose a seasonally adjusted 32.2k in October, much more than the 15.0k pencilled in by the market consensus. The unemployment rate unexpectedly declined 0.1ppts to 3.4%.

  • 20 Oct 2022 Employment - September 2022

    Employment rose a seasonally adjusted 0.9k in September, much less than the 25.0k expected by the markets. The slight increase in employment resulted from a 13.3k gain in full-time jobs almost fully offset by a 12.4k decline in part-time jobs. The unemployment rate was unchanged at 3.5%, in line with market expectations.

  • 15 Sep 2022 Employment - August 2022

    Employment rose a seasonally adjusted 33.5k in August, pretty much in line with the 35.0k envisaged by the market consensus. The unemployment rate rose 0.1ppts to the still low 3.5%, as the participation rate rose to 66.6%.

  • 18 Aug 2022 Employment - July 2022

    Employment fell a seasonally adjusted 40.9k in July, against market expectations of a 26.5k increase. The unemployment rate dipped 0.1ppts to 3.4%, the lowest level since Q3 1974 when the labour force survey was quarterly. This came amid a 0.3ppts fall in the participation rate, to a still high 66.4%.

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