Labour Force

  • October 2021

    November 11, 2021

    Employment declined a seasonally adjusted 46.3k in October (mkt exp +50.5k). The seasonally adjusted unemployment rate jumped to 5.2% from 4.6% in September.

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  • September 2021

    October 14, 2021

    Employment fell a seasonally adjusted 138.0k in September, broadly in line with the 135.0k pencilled in by the market consensus.

    The unemployment rate rose 0.1ppts to 4.6%, against 4.8% expected by the market.

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  • August 2021

    September 16, 2021

    Employment dropped by a seasonally adjusted 146.3k in August, well over the 80.0k expected by market participants.

    The unemployment rate unexpectedly declined by another 0.1ppts to 4.5% (the lowest since 2008), while the market consensus envisaged an increase to 4.9%.

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  • July 2021

    August 19, 2021

    Seasonally adjusted employment rose by 2.2k in July, despite the lockdown in New South Wales.

    The adjustment in the labour market occurred through a reduction in hours worked, translating into a rise in the underemployment rate.

    The unemployment rate unexpectedly fell 0.3 ppts to 4.6%, as some people that had lost their jobs due to the lockdown were not classified as unemployed.

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  • June 2021

    July 15, 2021

    Seasonally adjusted employment rose 29.1k in June, (exp +20k), following an unrevised rise of 115.2k in May. Unemployment rate falls to 4.9%.

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  • May 2021

    June 17, 2021

    Seasonally adjusted employment surged by 115.2k in May, following a 30.7k fall in April. The result was well above the consensus market expectation for a 30k rise.

    The unemployment rate dropped 0.4ppts to 5.1% in May, which is still markedly above the RBA’s estimate of the non-accelerating inflation rate of unemployment (NAIRU) of somewhere below 4.5%.

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