WHAT'S NEW IN THE LABOUR FORCE
MAJOR REBENCHMARKING OF LABOUR FORCE ESTIMATES
Following consultation with key users, the ABS has rebenchmarked the Labour Force estimates to preliminary 2016 rebased Estimated Resident Population (ERP) benchmarks, resulting in revisions to Labour Force estimates for the period from July 2011 onwards. Rebenchmarked data was released in Labour Force, Australia - Rebenchmarked Estimates, October 2017 (cat. no. 6202.0.55.003) on 7 December.
This approach is consistent with the guiding principle that has underpinned quarterly rebenchmarking since it was introduced in August 2015; that is, to ensure the best available population information is used in Labour Force benchmarks. It also reflects the increased timeliness in which major rebenchmarking can be undertaken, following the introduction of the quarterly methodology, and the increased appetite of users of Labour Force statistics for regular revisions.
From this issue of Labour Force, Australia (cat. no. 6202.0) onwards, the ABS will use 2016 based Labour Force Survey benchmarks. A second major rebenchmarking process will be undertaken in December 2018, when final 2016 rebased ERP benchmarks will be used. The ABS believes that most of the differences between 2011-based and 2016-based benchmarks were observed in the initial rebenchmarking release on 7 December 2017. Revisions that will occur in December 2018, when final rebased population estimates are used in a second major rebenchmarking process, should generally be minor.
Further information on this rebenchmarking process can be found in the article "Major Rebenchmarking of Labour Force Series" in the October 2017 issue of Labour Force, Australia - Rebenchmarked Estimates (cat. no. 6202.0.55.003).
LABOUR FORCE EXPLAINED
Labour Force Explained (http://www.abs.gov.au/websitedbs/D3310114.nsf/home/labour+force+explained) launched on Thursday 26 October 2017, providing basic information on the Labour Force Survey and Labour Force figures. It includes basic information on how employment (and full-time and part-time employment) is measured, measures of unemployment and underemployment, and information on trend and seasonally adjusted data.
More detailed information on these topics can be found in the Explanatory Notes of Labour Force, Australia (cat. no. 6202.0) and in Labour Statistics: Concepts, Sources and Methods (cat. no. 6102.0.55.001).