Labour Force

  • March 2021

    April 15, 2021

    Seasonally adjusted employment surged by another 70.7k in March.

    The unemployment rate continued to decline, reaching 5.6%.

    Aggregate hours worked rose above pre-COVID levels, while the participation rate climbed to an all-time high.

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  • February 2021

    March 18, 2021

    Seasonally adjusted employment grew by 88.7k in February, coming back to pre-COVID levels.

    The unemployment rate dropped by 0.5 percentage points to 5.8%, to be 0.8 percentage points higher than in February 2020.

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  • January 2021

    February 18, 2021

    Seasonally adjusted employment grew by 29.1k nationwide in January, slightly less than the 40.0k expected by market participants.

    Employment growth was concentrated in Victoria, which continued to recover from the 2020 Melbourne lockdown.

    The unemployment rate fell slightly more than expected by market participants, reaching 6.4% in January against the consensus of 6.5%.

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  • December 2020

    February 3, 2021

    Seasonally adjusted employment grew by 50.0k nationwide in December 2020, in line with market expectations.

    The unemployment rate continued to fall, reaching 6.6%, slightly less than expected by market participants (6.7%).

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  • November 2020

    December 17, 2020

    The labour market recovery continued in November, as most containment measures were lifted in Victoria.

    Employment grew a seasonally adjusted 90.0k, exceeding expectations of 50.0k, to be just 0.6% down through the year.

    The unemployment rate declined to 6.8%, still markedly above the level the RBA needs to see to consider monetary policy tightening (below 5.0%).

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  • October 2020

    November 19, 2020

    Labour market conditions improved in October, reflecting the strong rebound in Victoria and the ongoing recovery in employment elsewhere.

    Seasonally adjusted employment rose by 178.8k, to be 1.0% down YoY.

    A rise in participation triggered a slight increase in the unemployment rate, to 7.0% from 6.9% previously.

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