ABS Labour Force Figures, released today, unemployment rate remains steady at 3.9%

Welcome to the May edition of the MyHorizon News Bulletin.

‍Our overview of the labour market provides the latest unemployment data from across the globe. We also include the Roy Morgan Consumer Confidence report, the ANZ Job Advertisement Series, ABS Job Vacancy data and the DEEWR report.

‍Australia: ABS Labour Force Figures, released today, unemployment rate remained steady at 3.9%. The participation rate decreased to 66.3%.  Monthly hours worked increased by 23 million hours to 1,833 million hours. ↔  Note: The ABS numbers have altered slightly as a result of their annual review.

‍ABS unemployment data‍

‍USA: Bureau of Labor Statistics, released May 6, the unemployment rate remained steady at 3.6%. ↔

‍USA unemployment data‍

‍UK: Bureau of Labor Statistics, released May 17, the unemployment rate decreased 0.1 points to 3.7%. ↓

‍UK unemployment data‍

‍New Zealand: Statistics New Zealand, released May 3, the unemployment rate remained steady in the first quarter at 3.2%. ↔

‍NZ unemployment data‍

‍Germany: Destatis Germany, released May 5, unemployment rate remained steady at 5%. ↔

‍Germany unemployment data

France: Insee France, released May 17, the unemployment rate decreased 0.1 points in the first quarter to 7.3%. ↓

‍France unemployment data

Spain: Instituto Nacional de Estadistica, released April 28, unemployment rate increased 0.32 points in the first quarter to 13.65%. ↑

‍Spain unemployment data

Roy Morgan Consumer Confidence ANZ, Indonesia and China: The latest Roy Morgan consumer confidence in four Asian countries.

‍Roy Morgan Consumer Confidence Report‍

‍Job Advertisements Series, released May 2, Job Ads decreased 0.5% m/m in April but remained close to its recent pandemic high in March. This supports our argument that demand for labour is still very high and should lead to continued strong employment gains.

Job Advertisements Series‍‍

Job Vacancy Rates: ABS Labour Force Figures, released March 31, total job vacancies for the February 2022 quarter were 423,500, an increase of 6.9% from November 2021. ↑

‍ABS Job Vacancy data

‍‍DEEWR Report: Department of Employment Monthly Leading Indicator of Employment, released May 18.

Department of Employment Monthly Leading Indicator of Employment