Trend Unemployment Rate Down To 5.1 % In November 2018

Trend Unemployment Rate Down To 5.1 % In November 2018

Australian Bureau Of Statistics

Trend Unemployment Rate Continues To Decrease

Victor P Taffa

Australia’s trend unemployment rate fell from 5.2 % to 5.1 % in November 2018, according to the latest figures released by the Australian Bureau of Statistics (ABS).

“The continued decrease in the trend unemployment rate to 5.1 per cent coincides with the highest trend participation rate ever.” ABS Chief Economist Bruce Hockman said.

Employment And Hours

In November 2018, trend employment increased by 28,800 persons. Full-time employment increased by 19,300 persons and part-time employment increased by 9,500 persons.

Over the past year, trend employment increased by 295,700 persons (2.4 %) which was above the average year-on-year growth over the past 20 years (2.0 %).

Trend monthly hours worked increased by 0.2 % in November 2018 and by 1.9 % over the past year. This is slightly above the 20-year average year on year growth of 1.7 %.

Monthly trend underemployment rate increased by less than 0.1 percentage points to 8.4% and the monthly underutilisation rate remained steady at 13.5 %.

States And Territories

This month, the trend unemployment rate decreased in New South Wales and the Australian Capital Territory, increased in Western Australia and the Northern Territory, and remained steady in all other states.

Seasonally Adjusted Data

Seasonally adjusted unemployment rate rose to 5.1 % in November 2018. The seasonally adjusted number of persons employed increased by 37,000 persons.

Net movement of employed in both trend and seasonally adjusted terms is underpinned by well over 300,000 people entering employment, and more than 300,000 leaving employment in the month.