Australia Jobless Rate Lowest since 2011


Australia's seasonally adjusted unemployment rate inched lower to 4.9 percent in February 2019 from 5.0 percent in the previous month and below market expectations of 5.0 percent. It was the lowest jobless rate since June 2011. The economy added 4,600 jobs while the number of unemployed declined by 11,700.

The number of unemployed decreased by 11,700 to 664,300 in February. People looking for full-time work declined by 4,500 to 457,100, and those looking for only part-time work fell 7,200 to 207.2. Male unemployment declined 900 and female unemployment dropped 12,600.

Employment went up 4,600 to 12,763,400, missing market consensus of a 14,000 gain and after a downwardly revised 38,300 increase in January. Part-time employed persons rose 11,900 to 4,020,700, while full-time employed persons fell 7,300 to 8,742,700 

The participation rate dropped 0.1 points from a month earlier to 65.6 percent, lower than forecasts of 65.7 percent. Meantime, the employment to population ratio fell 0.1 percentage points to 62.3 percent.

The underemployment rate declined 0.1 points to 8.1 percent in February. 

Seasonally adjusted monthly hours worked in all jobs increased by 3.1 million hours, or 0.2 percent, to 1,769.9 million hours.

Australia Jobless Rate Lowest since 2011


ABS l Rida Husna | rida@tradingeconomics.com
3/21/2019 11:53:41 AM