Unemployment Rate Rises in Australia in July

Canberra, August 20 – Australia’s unemployment rate reached 4.5 percent in July, according to government statistics released on Thursday. Economists had forecast the rate to remain steady at 4.4 percent, but it has instead increased. The Australian Bureau of Statistics (ABS) reports that between June and July, the number of employed persons decreased by 15,800, while the number of unemployed individuals rose by 4,200. The July unemployment rate is among the highest since November 2021.

Sean Creek, head of labor statistics at the ABS, noted that employment among men declined by 11,000 and among women by 5,000 in July. Despite a decrease of 22,000 in the number of women working part-time, full-time employment among women increased by 17,000. Total hours worked during this period remained nearly flat, decreasing by 0.0 percent to 199 million hours. Additionally, the labor force participation rate of working-age individuals, either employed or seeking work, fell slightly from 67 percent in June to 66.9 percent in July, according to the ABS.