Australia's seasonally adjusted unemployment rate ticked higher to 3.8% in March 2024 from February’s five-month low of 3.7% but below market forecasts of 3.9%. The number of unemployed individuals increased by 20.6 thousand to 569.9 thousand, with those seeking full-time jobs rising by 19.3 thousand to 371.3 thousand and those looking for part-time jobs adding by 1.3 thousand to 198.6 thousand. Meanwhile, employment unexpectedly fell 6.6 thousand to 14.26 million, missing the market consensus of a 7.2 thousand gain. Part-time employment dropped by 34.5 thousand to 4.41 million while full-time employment increased by 27.9 thousand to 9.85 million. The participation rate was at 66.6%, down slightly from 66.7% in February. The underemployment rate came at 6.5%, 2.3 points lower than the level in March 2020. Additionally, monthly hours in all jobs rose by 17 million, or 0.9%, to 1,956 million. source: Australian Bureau of Statistics
Unemployment Rate in Australia increased to 3.80 percent in March from 3.70 percent in February of 2024. Unemployment Rate in Australia averaged 6.62 percent from 1978 until 2024, reaching an all time high of 11.20 percent in December of 1992 and a record low of 3.50 percent in July of 2022. This page provides - Australia Unemployment Rate at 5.8% in December - actual values, historical data, forecast, chart, statistics, economic calendar and news. Australia Unemployment Rate - data, historical chart, forecasts and calendar of releases - was last updated on April of 2024.
Unemployment Rate in Australia increased to 3.80 percent in March from 3.70 percent in February of 2024. Unemployment Rate in Australia is expected to be 4.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Australia Unemployment Rate is projected to trend around 4.70 percent in 2025 and 4.90 percent in 2026, according to our econometric models.