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Australia Unemployment Rate

Last Release
Feb 29, 2024
Actual
3.7
Units In
%
Previous
4.1
Frequency
Monthly
Next Release
Apr 18, 2024
Time to Release
25 Days 1 Hours
Highest
Lowest
Average
Date Range
Source
11.2
Dec 1992
3.4
Jul 2022
6.62 %1978-2024Australian Bureau of Statistics
In Australia, the unemployment rate measures the number of people actively looking for a job as a percentage of the labour force.

Latest Updates

Australia's seasonally adjusted unemployment rate fell to 3.7% in February 2024, the lowest since last September, from 4.1% in January. Figures were less than market forecasts of 4.0% as the number of unemployed individuals dropped by 52 thousand to 548.3 thousand, with those seeking full-time jobs falling by 47.8 thousand to 351.5 thousand and those looking for part-time jobs retreating by 4.3 thousand to 196.7 thousand. Meanwhile, employment surged 116.5 thousand to a record 14.27 million, easily topping consensus of a 40 thousand gain. Full-time employment climbed 78.2 thousand to 9.82 million, and part-time employment added 38.3 thousand to 4.44 million. The participation rate was at 66.7%, down slightly from a downwardly revised 66.6% in January, compared with expectations of 66.8%. The underemployment rate inched down to 6.6%, which was 2.2 points lower than that in March 2020. Additionally, monthly hours in all jobs rose by 53 million, or 2.8%, to 1,933 million.

Australia Unemployment Rate History

Last 12 readings

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