Australia Unemployment Rate Summary

Unemployment rate is an useful indicator to tell whether our economy is doing well.  The following charts are summary of the unemployment rate in Australia for 40 years, 25 years, 10 years and 1 year.

40 Years

Average is 7%.

25 Years

Average is 6%

10 Years

Average is 6%

5 Years

Average is 5.6%

1 Year

Average is 6.5%

Summary

It looks like we have reached the top at 7.5% which is historical high since 2001. The trend seems to moving down. So economy should start recovering slowly. It probably takes 1-2 years to recover to the rate before Covid-19.