Unemployment Rate Steady At 5.4 % July 2018

Unemployment Rate Steady At 5.4 % July 2018

Australian Bureau Of Statistics

Trend Unemployment Rate Steady At 5.4 %

Victor P Taffa

Trend unemployment rate was 5.4% in the month of July 2018, according to latest figures released by the Australian Bureau of Statistics (ABS) today.

“Over the year to July, the unemployment rate declined by 0.2 percentage points. This continues the gradual decrease in the trend unemployment rate from late 2014 and is the lowest it has been since 2012.” Chief Economist for the ABS, Bruce Hockman said.

Employment And Hours

Trend employment increased by around 27,000 persons in July 2018 with full-time employment increasing by over 18,000 persons.

Trend participation rate remained steady at 65.5 % in July 2018, after the June figure was revised down.

Over the past year, trend employment increased by around 300,000 persons or 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 July 2018 and by 1.9 % over the past year.

States And Territories

For most states and territories, year-on-year growth in trend employment was above their 20 year average, except for:

  • Queensland,
  • Western Australia,
  • Tasmania.

Over the past year, the states and territories with the strongest annual growth in trend employment were:

  • Northern Territory (3.5 %),
  • New South Wales (3.2 %),
  • Victoria (2.5 %).

Seasonally Adjusted Data

Seasonally adjusted number of persons employed decreased by around 4,000 persons in July 2018. The seasonally adjusted unemployment rate decreased to 5.3 % and the labour force participation rate decreased to 65.5 %.

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.