Australian Unemployment Rate Rises to 4.2 Percent, Highest Level Since Late 2021

Published on August 15, 2024

Australia’s unemployment rate went up 0.1 percent to 4.2 percent in July, according to new data released on Aug. 15. This was the highest level since November 2021 but 1 percentage point lower than March 2020, the Australian Bureau of Statistics (ABS) noted. Labour force statistics revealed that the number of unemployed people rose by 24,000 and the number of employed people by more than 58,000. This led to the participation rate rising to a record 67.1 percent. ABS head of labour statistics Kate Lamb said that while unemployment rose by 637,000 in July, the highest since November 2021, it was still 70,000 below the pre-pandemic level. “The employment-to-population ratio rose by 0.1 percentage point to 64.3 percent, indicating employment growth was faster than population growth, and was just below the historical high of 64.4 percent in November 2023,” she said....

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