Labour Force

  • December 2020

    January 21, 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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  • September 2020

    October 15, 2020

    Employment fell by a seasonally adjusted 29.5k in September, dragged down by a decline in Victoria.

    Other states saw a rise in employment in September, yet the pace of job creation has stalled.

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  • August 2020

    September 17, 2020

    Seasonally adjusted employment rose by 111.0k in August, while market participants were expecting a 50k fall.

    The upside surprise came from robust employment growth in all states but Victoria, including a rise in owner-manager employment not captured by weekly payrolls data.

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  • July 2020

    August 13, 2020

    Employment continued to recover between early June and early July.

    The reference period for the July labour force survey largely pre-dates the introduction of the ‘stage 3’ lockdown in Melbourne.