According to the ABS data, released today, Australia’s estimated seasonally adjusted unemployment rate for May 2015 was 6.0 per cent, a decrease of 0.2 percentage points (based on unrounded estimates) from a revised 6.1 per cent for April 2015. In trend terms, the unemployment rate decreased less than 0.1 percentage points to 6.0 per cent.
The seasonally adjusted labour force participation rate was unchanged at 64.7 per cent in May 2015 from a revised April estimate.
The ABS reported the number of people employed increased by 42,000 to 11,759,600 in May 2015 (seasonally adjusted). The increase in employment was driven by increases in part-time employment for females (up 29,800) and full-time employment for males (up 15,900).
The ABS seasonally adjusted aggregate monthly hours worked series increased in May 2015, up 2.2 million hours (0.1 per cent) to 1,631.8 million hours.
The seasonally adjusted number of people unemployed decreased by 22,000 to 745,200 in May 2015. This was driven by unemployed people who looked for full-time work, which decreased by 23,500 to 514,500.
The seasonally adjusted underemployment rate was 8.5 per cent in May 2015, unchanged from February 2015. Combined with the unemployment rate of 6.0 per cent, the latest seasonally adjusted estimate of total labour force underutilisation was 14.5 per cent in May 2015, a decrease of 0.4 percentage points from February 2015.
