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).
The trend participation rate increased slightly to 65.7 per cent in November 2018, and was 0.2 percentage points higher than in November 2017. The female participation rate rose to 60.5 per cent and the male participation rate rose to 71.0 per cent.
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.
The monthly trend unemployment rate increased in the Northern Territory (up 0.3 percentage points to 5.0 per cent) and Western Australia (up 0.1 percentage points to 6.3 per cent), and decreased in New South Wales (down 0.1 percentage points to 4.4 per cent) and the Australian Capital Territory (down 0.1 percentage points to 3.4 per cent). Victoria (4.6 per cent), Queensland (6.3 per cent), South Australia (5.6 per cent) and Tasmania (5.8 per cent) all remained unchanged.
The monthly trend participation rate decreased in the Northern Territory (down 0.3 percentage points to 74.0 per cent), Tasmania (down 0.2 percentage points to 60.6 per cent), the Australian Capital Territory (down 0.1 percentage points to 70.0 per cent), New South Wales (down less than 0.1 percentage points to 64.9 per cent) and South Australia (down less than 0.1 percentage points to 62.4 per cent). The trend participation rate increased in Western Australia (up 0.1 percentage points to 68.9 percent) and Victoria (up less than 0.1 percentage points to 65.8 per cent). The monthly trend participation rate remained unchanged in Queensland (65.7 per cent).
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.
