Australian Bureau Of Statistics
Trend Unemployment Rate 5.3%
Victor P Taffa
Australia’s trend unemployment rate increased in August 2019 to 5.3 %, from a revised July 2019 figure, according to the latest information released by the Australian Bureau of Statistics (ABS).
“Australia’s trend unemployment rate increased to 5.3 % in August 2019. The trend participation rate increased further to 66.2 %, while employment continued to grow above the 20-year annual average.” ABS Chief Economist Bruce Hockman said.
Employment And Hours
In August 2019, trend monthly employment increased by around 22,000 people. Full-time employment increased by just over 7,000 people and part-time employment increased by an estimated 15,000 people.
Over the past year, trend employment increased by 0.3 Million people (2.5 %) which was above the average annual growth over the past 20 years (2.0 %). Full-time employment increased by 2.4 % and part-time employment increased by 2.8 % over the past year.
Trend monthly hours worked increased by 0.1 % in August 2019 and by 1.7 % over the past year. This is in line with the 20-year average year-on-year growth of 1.7 %.
Underemployment And Underutilisation
Trend monthly underemployment rate remained steady at 8.5 % in August, an increase of 0.1 percentage points over the past year. The trend underutilisation rate increased by 0.2 percentage points over the past year.
States And Territories Trend Unemployment Rate
Trend unemployment rate remained steady in most states and territories, except for South Australia (up 0.2 percentage points), Queensland and the Northern Territory (up 0.1 percentage points) and Western Australia (down 0.1 percentage points).
Over the year, unemployment rates fell in New South Wales, Western Australia and the Australian Capital Territory, and increased in Victoria, Queensland, South Australia, Tasmania and the Northern Territory.
Seasonally Adjusted Data
Seasonally adjusted unemployment rate increased by less than 0.1 percentage points to 5.3 % in August 2019, while the underemployment rate increased by 0.1 percentage points to 8.6 %.
Seasonally adjusted participation rate increased by 0.1 percentage points to 66.2 %, and the number of people employed increased by an estimated 35,000.
Net movement of employed in both trend and seasonally adjusted terms is underpinned by around 350,000 people entering and leaving employment in the month.