Migration Drives Australian Population Up 2.5pc

Australia’s population grew by 2.5 per cent to 26.97 million people in 2023, according to the Australian Bureau of Statistics (ABS). 

ABS head of demography Beidar Cho said net overseas migration drove 84 per cent of this population growth, while natural increase accounted for the other 16 per cent.

Net overseas migration was 547,300 people in 2023, with 751,500 arrivals and 204,200 departures.

Natural increase was 103,900 people in 2023, 6.4 per cent less than in 2022.

This comprised 287,100 births and 183,100 deaths registered in Australia. 

Western Australia had the fastest growing population, up 3.3 per cent from 2022, followed by Victoria, up 2.8 per cent, and Queensland, 2.6 per cent.

Tasmania had the lowest growth at 0.4 per cent.

Australia’s population growth is comprised of natural increase (births minus deaths) and net overseas migration (migration arrivals minus migration departures).

Australia’s population growth averaged 1.4 per cent per year from June 30 1993 to June 30 2023.

Population by State and Territory

▲ Source: ABS

Jobless rate down a shade

Meanwhile, the unemployment rate fell by 0.1 percentage point to 4.0 per cent in May, according to the ABS.

ABS head of labour statistics Bjorn Jarvis said that with employment rose by around 40,000 people and the number of unemployed fell by 9000.

“In April we saw more unemployed people than usual waiting to start work. Some of the fall in unemployment and rise in employment in May reflects these people starting or returning to their jobs,” Jarvis said.

“While the total number of unemployed people fell by 9000 in May, this followed a 33,000 increase in April. Unemployment was around 24,000 people more than in March, an average increase of around 12,000 people each month. 

“There are now almost 600,000 unemployed people, however, that is still nearly 110,000 fewer people than in March 2020, just before the pandemic.” 

As a result of the increase in employment and the fall in unemployment, the seasonally adjusted employment-to-population ratio remained at 64.1 per cent and the participation rate remained at 66.8 per cent. 

“The employment-to-population ratio and participation rate continue to be much higher than their pre-pandemic levels. Together with elevated levels of job vacancies, this suggests the labour market remains relatively tight, though less than in late 2022 and early 2023,” Jarvis said.