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- All time high for Australian labour force participation
All time high for Australian labour force participation
The trend participation rate increased to a record high of 65.7 per cent in March 2018, according to latest figures released by the Australian Bureau of Statistics (ABS) today.
"The labour force participation rate now sits at 65.7 per cent, the highest it has been since the series began in 1978, indicating that the population is participating in the labour market at a record high level," the Chief Economist for the ABS, Bruce Hockman, said.
In line with the increasing participation rate, employment increased by around 14,000 persons. Part-time employment increased by 13,000 persons and full-time employment by 1,000 persons, reflecting a slowing in full-time employment growth.
Over the past year, trend employment increased by 3.1 per cent, which was above the average year-on-year growth over the past 20 years (1.9 per cent).
The trend unemployment rate increased slightly to 5.6 per cent in March 2018.
"The unemployment rate has continued to be relatively constrained over the past year, and is still hovering around 5.5 to 5.7 per cent", Mr Hockman said.
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