Labour Force
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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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April 2021
April 20, 2021 Seasonally adjusted employment declined by 30.6k in April, which followed an upwardly revised rise of 77.0k in March.
The unemployment rate declined to 5.5%, driven by a fall in labour force participation.
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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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