Unemployment Rate Down To 5.1 % In December 2019

Unemployment Rate Down To 5.1 % In December 2019

Australian Bureau Of Statistics

Trend Unemployment Rate Ends 2019 At 5.1%

Victor P Taffa

Australia’s trend unemployment rate decreased to 5.1 % in December 2019, according to the latest information released by the Australian Bureau of Statistics (ABS) today.

“In December 2019, the trend unemployment rate decreased slightly to 5.1 %, its lowest level since April 2019.” ABS Chief Economist Bruce Hockman said.

Employment And Hours

In December 2019, trend monthly employment increased by around 18,000 people. Both full-time and part-time employment increased by around 9,000 people.

Over the past year, trend employment increased by around 261,000 people (2.1 %), which continued to be above the average annual growth over the past 20 years (2.0 %).

Full-time employment growth (1.5 %) was below the average annual growth over the past 20 years (1.6 %) and part-time employment growth (3.2 %) was above the average annual growth over the past 20 years (3.0 %).

“While there has been stronger growth in part-time employment over the past year, the underemployment rate is still where it was last December, at 8.3 %.” Mr. Hockman said.

Trend monthly hours worked increased by 0.2 % in December 2019 and by 1.7 % over the past year. This was in line with the 20-year average annual growth of 1.7 %.

Underemployment And Underutilisation

Trend monthly underemployment rate remained steady at 8.3 % in December 2019, unchanged over the past year. The trend monthly underutilisation rate also remained steady at 13.5 % in December 2019, an increase of 0.2 percentage points over the past year.

States And Territories Trend Unemployment Rate

Monthly trend unemployment rate increased in the Northern Territory, and decreased in Queensland and Tasmania in December 2019. The unemployment rate remained steady in all other states and the Australian Capital Territory.

Over the year, unemployment rates fell in Queensland, Western Australia, Tasmania and the Australian Capital Territory. Unemployment rates increased in all other states and the Northern Territory.

Seasonally Adjusted Data

Seasonally adjusted unemployment rate decreased by 0.1 percentage points to 5.1 % in December 2019, while the underemployment rate remained steady at 8.3 %. The seasonally adjusted participation rate remained steady at 66.0 %, and the number of people employed increased by around 29,000.

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