WHAT'S NEW IN LABOUR FORCE
REBENCHMARKING OF LABOUR FORCE ESTIMATES
Labour Force estimates for the period January 2011 to March 2013 have been revised to reflect the latest available information on population benchmarks. These revisions are in accordance with the Labour Force rebenchmarking policy introduced in November 2012 (see 'Rebenchmarking of Labour Force Series' in the November 2012 issue of this publication).
The estimates presented in this issue incorporate the latest estimates of Final and Preliminary Estimated Resident Population from Australian Demographic Statistics, Sep 2012 (cat. no. 3101.0) released on 28 March 2013, as well as the most recent estimates of Net Overseas Migration (NOM) from the Department of Immigration and Citizenship (DIAC) in The Outlook for Net Overseas Migration, Dec 2012, released in April 2013.
The revisions to the national seasonally adjusted estimates of the number of employed and unemployed persons were less than 0.25% for any given month. The largest revisions were observed in the most recent 12 months. This was due to the replacement of DIAC NOM forecasts with ABS Preliminary NOM for the period April to September 2012, and updates to the DIAC NOM forecasts for the remaining period October 2012 to March 2013.
The largest revision to the national seasonally adjusted estimates was only small - an increase of 17,600 employed people in December 2012, which was less than half the standard error (37,200). A significant revision (with 95% confidence) would be larger than two standard errors (74,400).
There was no discernible revision to the national seasonally adjusted unemployment rate for any month (no larger than 0.003 pts).
The following table shows the difference between the March 2013 and revised estimates for the first quarter of 2013.
Revisions to the employment seasonally adjusted series for the first quarter of 2013(a) |
|
 | Employed ('000) | Monthly Change ('000) |
| Previous | Revised | Difference | Previous | Revised | Difference |
|
| Dec-12 | 11541.8 | 11559.4 | 17.6 | -2.1 | -1.9 | 0.2 |
| Jan-13 | 11554.9 | 11570.4 | 15.5 | 13.1 | 11 | -2.1 |
| Feb-13 | 11628.9 | 11642.5 | 13.6 | 74 | 72.2 | -1.8 |
| Mar-13 | 11592.7 | 11605.6 | 12.9 | -36.1 | -36.9 | -0.7 |
|
| (a) Note: To isolate the impact of rebenchmarking, these estimates are based on seasonally adjusted series ending with March 2013. The revised estimates will not match the seasonally adjusted estimates published in the April 2013 issue as further revisions have been introduced as part of the normal monthly concurrent seasonal adjustment process. |
To compare the changes between the revised and previously published estimates refer to 'Table R1. Impact of benchmark revisions on labour force survey estimates' in the downloads tab of this issue.
Revisions to the industry and occupation estimates will be applied in the May issue of
Labour Force, Australia, Detailed, Quarterly (cat. no. 6291.0.55.003), due for release on 20 June 2013.
The next benchmark revision will be released on 7 November 2013 in the October issue of this publication and will revise estimates from July 2011 to September 2013.
NEW LABOUR FORCE SURVEY SAMPLE DESIGN COMMENCES IN MAY
The current Labour Force Survey sample is selected using information collected in the 2006 Census of Population and Housing. Following the release of 2011 Census based Estimated Resident Population in June 2013, more up to date information is available for use in the design and selection of the Labour Force Survey sample. As previously advised in the February 2013 issue, the new Labour Force Survey sample will be phased in over four months from May 2013. Prior to the release of the May 2013 estimates in June 2013, an information paper titled
Information Paper: Labour Force Survey Sample Design, May 2013 (cat. no. 6269.0) will be released on 30 May 2013 with detailed information on the sample design.
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