The rate is down by 8.0 percentage points from its recent high in April but is 3.2 percentage points higher than it was in February. Despite that, unemployment decreased in Victoria by 0.5%, due to a 1% decrease in the participation rate. Unemployment is plateauing in the region after spiking during the early months of the pandemic. Australia's seasonally adjusted unemployment rate unexpectedly was at 6.8% in November 2020, compared with market consensus and October's figure of 7%. Where will the jobs be in the future? The . Australia's unemployment rate jumped to 7.4 per cent in June, up from 7.1 per cent in May, despite the economy adding 210,800 new jobs as COVID-19 restrictions eased before Victoria's … Employment increased to 12,860,700. Youth Unemployment Rate in Australia increased to 15.60 percent in November from 15.50 percent in October of 2020. Meanwhile, official unemployment increased by 69,300 to 992,300 people, the highest number recorded since monthly records began in 1978. Employment Projections. Unemployment Rates (15+) by State and Territory, November 2020 (%) Supporting data. Unemployment rate forecast is defined as the projected value for the number of unemployed people as a percentage of the labour force, where the latter consists of the unemployed plus those in paid or self-employment. Westpac also anticipated the rate to remain flat but noted the participation rate in Victoria would rise higher than other states. Chart 2: Unemployment rate, Victoria and Australia, per cent Sources: Australian Bureau of Statistics; Department of Treasury and Finance, Victoria Note: Data are rolling 3-month average, seasonally adjusted. The nation’s unemployment rate improved to 3.75 percent last month, hitting the lowest level in eight months, the Directorate- General of Budget, Accounting and Statistics (DGBAS) said yesterday. Chart 1. Victoria County unemployment rate hovers at 8.4% since worst of pandemic layoffs | … The 12 month average unemployment rate to September 2020 for Geelong was 1.6 points lower than the Victorian unemployment rate (5.9%) and 1.8 points lower than the Australian unemployment rate … The number of unemployed declined by 17,300 to 942,100 people, as people looking for full-time work was down by 11,400 to 673,000 and … The national unemployment rate was just 1.2 per cent by 1947 and 0.9 per cent by 1948. WA's seasonally adjusted unemployment rate dropped from 8.3 per cent in June to 7 per cent in August, behind the national unemployment rate of 6.8 per cent. In November, the unemployment rate edged down to 6.7 percent. Youth Unemployment Rate in Australia averaged 13.40 percent from 1978 until 2020, reaching an all time high of 20.10 percent in October of 1992 and a record low of 7.60 percent in August of 2008. Australia's unemployment rate has beaten expectations, falling to 6.8 per cent despite more than 42,000 Victorians losing work in the month of August alone. Vacancy Report. Unemployment numbers have leaped locally, as three million people across the country have lost their jobs in two months due to COVID-19. This was the lowest jobless rate since August, as the economy emerged gradually from the COVID-19 hit. Unemployment rate The unemployed are people of working age who are without work, are available for work, and have taken specific steps to find work. Employment to population ratio increased to 61.6%. The lockdown in Victoria will likely push unemployment in Australia to 10% by … Youth unemployment rate in selected world regions 2020; U.S. unemployment rate: seasonally adjusted November 2020; Unemployment rate in China 2008-2025; Annual average unemployment rate in … To 6.7 percent rate edged up 0.02 percentage points from 3.8 percent in November, the unemployment in... 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