Nearly 2 out of 3 Australians participating in labour market

In BICSI Bytes, Newsby

Australia’s trend participation rate increased to 66.0% in June 2019 according to the latest Australian Bureau of Statistics (ABS) information.

Commenting on the report, ABS Chief Economist Bruce Hockman said: “Australia’s participation rate was at 66%, with the participation rate for 15-to-64 year olds even higher and closer to four out of every five people.”

The trend unemployment rate remained steady at 5.2% from a revised May figure.

In June 2019, trend monthly employment increased by around 26,000 persons. Full-time employment increased by 15,000 persons and part-time employment increased by 11,000 persons respectively.

Over the past year, trend employment increased by 329,000 persons (2.6%), well above the average annual growth over the past 20 years of 2.0%.

The trend monthly hours worked increased by less than 0.1% in June 2019 and by 2.0% over the past year, also well above the 20-year average year-on-year growth of 1.7%.

The trend monthly underemployment rate remained steady at 8.3% in June, and decreased by 0.2 percentage points over the year. The trend underutilisation rate decreased by 0.4 percentage points over the year.

The trend unemployment rate remained steady in most states and territories, except for Queensland (up 0.1 percentage points) and Western Australia (down 0.1 percentage points).

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

The seasonally adjusted unemployment rate remained steady at 5.2% in June 2019, while the underemployment rate decreased by 0.4 percentage points to 8.2%. The seasonally adjusted participation rate remained steady at 66.0%, and the number of persons employed increased by less than 1,000 persons.

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