Australia’s employment rate surges in January

Australian employment data has shown employment has surged in January, according to the Australian Bureau of Statistics.

employment figures Australia Source: Bloomberg

Australia's trend unemployment rate remained steady in January at 5.1%.

ABS figures showed, the employment rate has risen by 39,000 new jobs, made up of 65,400 in full-time employment, while part-time employment fell 26,300. Forecasts centred on a rise of 15,000 in employment.

Unemployment increased by 6,600, with the unemployment rate remaining steady at 5%.

ABS chief economist Bruce Hockman said: ‘The unemployment rate has remained at 5.1% for a second month, supported by strong participation in the labour force, at 65.7%.’

According to ABS data, participation rate increased 0.1 pts to 65.7%, while monthly hours worked in all jobs increased 6.6 million hours to 1766.4 million hours.

Over the past year, trend employment increased 2.4 % which was above the average annual growth over the past 20 years, according to the ABS.

The monthly trend underemployment rate remained steady at 8.3%. The monthly seasonally adjusted underemployment rate decreased 0.2 pts to 8.1%.

‘The 15-64 year old employment to population ratio reached a historical high of 74.1 per cent, with almost three of every four 'working age' Australians now employed’, Mr Hockman said.

Unemployment per state

The trend unemployment rate increased in South Australia, Western Australia and Tasmania but fell in New South Wales and Queensland, and remained steady in all other states and territories.

The monthly trend underemployment rate remained steady at 8.3%. The monthly seasonally adjusted underemployment rate decreased 0.2 pts to 8.1%.

The Australian dollar jumps on strong employment data

AUD/USD has moved up to from $0.7166 to $0.7200 in response to the jobs data.
Analysts say the strength in employment is helping to ease the reserve bank's concerns over potential risks.


This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.

See an opportunity to trade?

Go long or short on more than 16,000 markets with IG.

Spread bet and trade CFDs on our award-winning platform, with low spreads on indices, shares, commodities and more.

Live prices on most popular markets

  • Forex
  • Shares
  • Indices
Bid
Offer
-
-
-
-
-
-
-
-
-
-
Bid
Offer
Bid
Offer
-
-
China 300
-
-

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.

Plan your trading week

Get the week’s market-moving news sent directly to your inbox every Sunday. The Week Ahead gives you a full calendar of upcoming economic events, as well as commentary from our expert analysts on the key markets to watch.


For more info on how we might use your data, see our privacy notice and access policy and privacy webpage.

You might be interested in…

Find out what charges your trades could incur with our transparent fee structure.

Discover why so many clients choose us, and what makes us a world-leading provider of spread betting and CFDs.

Stay on top of upcoming market-moving events with our customisable economic calendar.

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money. Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.