Australia's unemployment rate has fallen below 5 per cent for the first time in a decade.
The rate dropped from 5.1 per cent to 4.9 per cent in June, according to Australian Bureau of Statistics data released this morning.
The rise in employment over the month was due to a robust increase in full-time employment, up by 51,600 (or 0.6 per cent) in June, to a record high of 9,016,800. Full-time employment is now 151,700 (or 1.7 per cent) higher than it was in March 2020.
READ MORE: How to claim the COVID-19 Disaster Payment
While female employment decreased marginally, by 400 in June, it remains 97,100 (or 1.6 per cent) above the level recorded in March 2020.
Female full-time employment rose slightly, by 600, to a record high of 3,445,600 in June.
The youth unemployment rate decreased by 0.5 percentage points to 10.2 per cent in June, the lowest rate recorded since January 2009.
However, the new figure does not account for the economic effects of the Greater Sydney coronavirus lockdown.
Employment Minister Stuart Robert said Australia-wide lockdowns are giving uncertainty to the economy.
"The risk of ongoing outbreaks of COVID-19 in the months ahead present a degree of uncertainty," Mr Roberts said.
"Recent lockdowns are expected to have an impact on employment over coming months."
The underemployment rate jumped to 7.9 per cent, up by half a percentage point.
The last time Australia's unemployment rate was below 5 per cent was June 2011.
The unemployment rate has now declined for eight months in a row.
More to come.
from 9News https://ift.tt/3hCgfT4
via IFTTT
0 Comments