Trend unemployment rate continues to decrease

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

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

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 per cent) which was above the average year-on-year growth over the past 20 years (2.0 per cent).

The trend monthly hours worked increased by 0.2 per cent in November 2018 and by 1.9 per cent over the past year. This is slightly above the 20 year average year on year growth of 1.7 per cent.

The 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 per cent.

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

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

The 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.

More details are in the November 2018 issue of Labour Force, Australia (cat. no. 6202.0). In addition, These publications are available for free download (after release) from the ABS website: https://www.abs.gov.au.

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