Australia: Unemployment rate

(measure: percent; source: The World Bank)
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Australia: Unemployment rate: For that indicator, The World Bank provides data for Australia from 1991 to 2014. The average value for Australia during that period was 6.8 percent with a minumum of 4.2 percent in 2008 and a maximum of 10.9 percent in 1993.

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The unemployment rate in Australia and other countries is defined as the number of unemployed people as percent of the labor force. The labor force includes the people who are either employed or unemployed, i.e. who don't have a job but are actively looking for one. The labor force does not include people who are not looking for work, children, and the retired.

The unemployment rate seldom declines below 4-5 percent even during boom times. There are always people who move between different sectors of the economy or between cities. When the economy goes into recession, then unemployment can reach much higher numbers, sometimes even in the double digits. Unemployment rate rankings around the world. Create and download charts for Australia Unemployment rate and other indicators with the country comparator.

World Bank definition: Unemployment refers to the share of the labor force that is without work but available for and seeking employment.
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