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Trend unemployment rate remains steady at 5.2%

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Released
20/02/2020
Source
Labour Force, Australia, January 2020

Australia's trend unemployment rate remained steady at 5.2 per cent in January 2020, from a revised December 2019 figure, according to the latest information released by the Australian Bureau of Statistics (ABS) today.

ABS Chief Economist Bruce Hockman said: "The trend unemployment rate has remained steady at 5.2 per cent since September 2019."

Employment and hours

In January 2020, trend monthly employment increased by around 20,000 people. Full-time employment increased by around 15,000 and part-time employment increased by around 5,000 people.

Over the past year, trend employment increased by around 257,000 people (2.0 per cent), in line with the average annual growth over the past 20 years (2.0 per cent).

Full-time employment growth (1.7 per cent) was above the average annual growth over the past 20 years (1.6 per cent) and part-time employment growth (2.8 per cent) was below the average annual growth over the past 20 years (3.0 per cent).

The trend monthly hours worked increased by less than 0.1 per cent in January 2020 and by 1.3 per cent over the past year. This was lower than the 20 year average annual growth of 1.6 per cent.

Underemployment and underutilisation

The trend monthly underemployment rate remained steady at 8.5 per cent in January 2020, and increased by 0.2 percentage points over the past year.

"The underemployment rate continues to remain high, but is still below the levels from 2016-17," said Mr Hockman.

The trend monthly underutilisation rate also remained steady at 13.7 per cent in January 2020, an increase of 0.4 percentage points over the past year.

States and territories trend unemployment rate

The monthly trend unemployment rate increased in Victoria and decreased in South Australia and Tasmania in January 2020. The unemployment rate remained steady in all other states and territories.

Over the year, unemployment rates fell in Western Australia, Tasmania and the Australian Capital Territory. Unemployment rates increased in New South Wales, Victoria, Queensland, and the Northern Territory.

Seasonally adjusted data

The seasonally adjusted unemployment rate increased by 0.2 percentage points to 5.3 per cent in January 2020, while the underemployment rate increased 0.3 percentage points to 8.6 per cent. The seasonally adjusted participation rate increased by 0.1 percentage points to 66.1 per cent, and the number of people employed increased by around 14,000.

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

More details are in the January 2020 issue of Labour Force, Australia (cat. no. 6202.0). In addition, further information, including regional labour market information, can be found in the upcoming January 2020 issue of Labour Force, Australia, Detailed - Electronic Delivery (cat. no. 6291.0.55.001), due for release on 27 February 2020.

These publications are available for free download (after release) from the ABS website: http://www.abs.gov.au.

Media note