The seasonally adjusted unemployment rate in Australia increased by less than 0.1 percentage point to 4.1% in June, fresh figures from ABS showed.
“With employment rising by around 50,000 people and the number of unemployed growing by 10,000 people, the unemployment rate rose slightly to 4.1%, and the participation rate rose to 66.9%,” said Bjorn Jarvis (pictured above), ABS head of labour statistics.
The participation rate in June was 66.9%, just 0.1 percentage point below the historical high of 67% in November 2023.
The employment-to-population ratio increased to 64.2%, close to its peak of 64.4% in November 2023.
“The employment-to-population ratio and participation rate both continue to be near their 2023 highs,” Jarvis said.
Seasonally adjusted monthly hours worked rose by 0.8%.
“In June, we continued to see more people than usual working reduced hours because they were sick, similar to what we saw in May,” Jarvis said.
The underemployment rate fell 0.3 percentage points to 6.5%, and the underutilisation rate decreased by 0.2 percentage points to 10.5%.
Trend data showed the unemployment rate remained at 4% with employment growing by 42,000 people (0.3%) in June.
“Since April 2024, the monthly growth in employment has been 0.3%, above the 20-year pre-pandemic average of 0.2%,” Jarvis said.
The employment-to-population ratio stayed at 64.1%, and the participation rate remained at 66.8%.
“In trend terms, all indicators still point to a tight labour market, although it is less tight than in early 2023,” Jarvis said in a media release.
For more detailed information, see Labour Force, Australia, June 2024. To compare with previous results, click here. For related news, read about job mobility trends in Australia.
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