Unemployment in Australia

The Australian Bureau of Statistics (ABS) is responsible for reporting Australia's unemployment rate. The ABS defines someone who is unemployed as:
      --> all persons 15 years of age and over who were not employed during the reference week, and:
              1)had actively looked for full-time or part-time work at any time in the four weeks up to the end of the reference week and were available for work in the reference week;

              2)or were waiting to start a new job within four weeks from the end of the reference week and could have started in the reference week if the job had been available then.

In Australia the unemployment rate is calculated as a percentage by dividing the number of unemployed individuals by all individuals currently in the labor force.

In addition, Australia has one of the lowest unemployment rates in the developed world, with an unemployment rate of 5.5%.