Australia Jobless Rate Unchanged At 5.4%

Marco Green
July 21, 2018

Labor's employment spokesman Brendan O'Connor blamed temporary visa holders, worldwide students and working holiday makers for keeping underemployment close to its peak at 8.5 per cent.

"The six month annualised growth rate in the Westpac-Melbourne Institute Leading Index, which indicates the likely pace of economic activity relative to trend three to nine months into the future, dropped from +0.05% in May to -0.33% in June", Evans said. "This continues a gradual decrease in the trend unemployment rate from late 2014 and is the lowest rate since January 2013", said the Chief Economist for the ABS, Bruce Hockman.

"With full-time contributing most of the gain +41k while part-time rose +10k, hours worked increased by 0.6% which all together rounds out a positive June employment result".

The participation rate ticked up to 65.7 percent, exceeding expectations for 65.5 percent - which would have been unchanged. Over the past year, trend employment increased by 318,000 persons or 2.6 percent, which was above the average year-on-year growth over the past 20 years (2.0 percent).

Among the States and Territories, unemployment fell sharply in Tasmania (to 5.8 per cent from 6.6 per cent).

Just a day after a key measure of consumer sentiment showed confidence among the State's shoppers at its highest level in four years, Australian Bureau of Statistics figures showed WA women are helping to rebuild the economy.

The seasonally adjusted number of persons employed increased by 51,000 persons in June 2018.

More details are in the June 2018 issue of Labour Force, Australia ( 6202.0).

Other reports by Click Lancashire

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