In August 2024, the unemployment rate remained at 4.1%. The participation rate remained at 67.0%. The number of employed increased to 14,443,600. The employment-to-population ratio remained at 64.2%. The unemployment rate was recorded at 6.4%. Monthly hours worked increased to 1.958 million.
In seasonally adjusted terms, the unemployment rate was 4.2% and the participation rate was 67.1%. The number of employed increased to 14,458,600, while the employment-to-population ratio increased to 64.3%. The unemployment rate increased to 6.5% and monthly hours worked increased to 1.962 million.
The number of full-time workers decreased by 3,100 to 9,979,100. In contrast, the number of part-time workers increased by 50,600, to 4,479,500. Estimates of changes throughout this release may have been calculated using unrounded level estimates and may differ from movements obtained from rounded level estimates, but are more accurate than those estimates. Release of regional modelled labour force estimates:
The Australian Bureau of Statistics has published new monthly SA4 level estimates in the July 2024 release of Australia’s Labour Force, in detail. Modelled estimates will be available each month on the same day as the detailed data. The Australian Bureau of Statistics recommends that modelled estimates be used instead of direct survey estimates whenever possible in reporting on regional labour markets. Improvements to estimation method: The Australian Bureau of Statistics has implemented some minor improvements to how it estimates the aged care population, as part of ongoing quality assurance of the estimation methods introduced in February 2024. These improvements have resulted in very minor revisions to employment, of no more than 3,000 people, since 2016.
Reassessment of labour force statistics quarterly
The Australian Bureau of Statistics has revised the original labour force series from July 2022 to reflect the latest available preliminary and final estimates of the resident population. This quarterly process ensures that the labour force series promptly reflects any changes in population trends and reduces size of the revisions that can occur when the series is reassessed after each population and housing census. The level of the resident civilian population has been revised downwards from June 2023 onwards. This has resulted in some minor revisions, including to the number of people in employment. Revisions to the original series may also result in revisions to the seasonally adjusted series.
Survey response and timeline: The August 2024 Labour Force Survey was conducted in relation to the fortnight from Sunday 4 August to Saturday 17 August, and data were collected from Sunday 11 August to Saturday 31 August.
Unemployment: Trend, August 2024:
The unemployment rate remained at 4.1%.
The number of unemployed people increased by about 5,000 to 625,200.
The youth unemployment rate remained at 9.8%.
There were significant month-to-month changes during the COVID-19 pandemic, resulting in multiple breakouts in the trend. Australian Bureau of Statistics recommends caution when using the trend estimates published in the data tables in this release for this period. Information on breakouts in the trend can be found in the Australian Labour Force Methodology, August 2024.
Employment: Trend, August 2024: Employment increased by about 40,300 people (0.3%) to 14,443,600 people.
End of interactive chart. There were significant month-to-month changes during the COVID-19 pandemic, resulting in multiple breakouts in the trend. The Australian Bureau of Statistics recommends caution when using the trend estimates published in the data tables in this release for this period. Information on trend discontinuities can be found in the Australian Workforce Methodology, August 2024.
Full-time and part-time work
In terms of trends, in August 2024: The number of full-time workers increased by 30,600 to 9,980,100, and the number of part-time workers increased by 9,700 to 4,463,500. The share of part-time employment was 30.9%.
The employment-to-population ratio is an important measure of how engaged individuals are in the labour market relative to the total population. In August 2024, when the ratio was steady at 64.2%, this indicates a relative stability in the Australian labour market. A stable ratio can indicate a balance between supply and demand for labour, but it is also important to consider other factors such as the type of jobs available, changes in economic sectors, and any potential impacts from the COVID-19 pandemic.
Employment-to-population ratio: During the COVID-19 pandemic, economic and social data have changed significantly, making it difficult to accurately analyse trends. The Australian Bureau of Statistics’ caution on the use of trend estimates in this period is important, as it indicates that disruptions caused by exceptional circumstances should be taken into account.
Hours worked: In terms of trends, in August 2024, monthly hours worked in all occupations increased by 3.1 million hours (0.2%) to 1,958 million hours.
Monthly hours worked in all occupations: You seem to be referring to the importance of data collected during the COVID-19 pandemic, as there have been significant fluctuations in the statistics. These disruptions make it difficult to draw accurate conclusions about economic or social trends. The Australian Bureau of Statistics’ caution emphasizes the need for caution when interpreting data, particularly those relating to periods of disruption.
Monthly hours worked in all occupations, seasonally adjusted: In terms of trends, in August 2024, Participation rate: Remained at 67.0%. It remained at 71.0% for men and rose to 63.1% for women.
