An Overview Of Australian Employment Statistics

According to the Australian employment statistics released by Australia Bureau of Statistics (commonly known as ABS) December 16th showed that monthly employment trends were largely unchanged within Australia in the last 12 months.

Total trend of unemployment decreased by 4,100 persons to about 11,949,300 persons in December 16th 2016, reflecting a decrease in unemployment of 3,200 persons as well as tiny decrease of about 400 persons working part-time. This has shown that the country has always put in more measures to ensure that people get employment opportunities especially with the existing economic times.

According to Bruce Hockman who is General Manager in the Macroeconomic Statistics Division of ABS, the general shift in the level of employment, mainly in the 1st half of 2016 was due to innovation among the people living in Australia. There were around 148,800 more persons working when compared to a year ago. This was an increase by 1.4 percent when compared to the previous years.

The employment rate trend remained at a steady rate of 5.6 percent for the 2nd consecutive years, having fallen from 6.2 percent in the year 2013. The participation rate trend was also unchanged at rate of 64.5 per cent.

The trend yearly hours worked had increased by 0.1 per cent(0.8 million hours), with decreasing in total working hours done by workers and another increase in the number of working hours done by full-time workers.

The quarterly trend employment rate also remained at rate of 3.5 per cent for another 3rd successive quarter. He noted that the rate of unemployment was still at a high especially for the levels of Australia given the measures that the government has been putting to reduce it to below 4 percent annually when compared to the previous years.

Trend series smoothen by a more volatile season with adjusted estimates while providing the best measure for the underlying behavior of the labor market. With more measures being implemented, the rate of seasonally adjusted employment should decreased by 1.1 percentage in the coming years.

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