By Juliano Oliveira
The unemployment rate in Australia has fallen to 4.9%, the lowest percentage registered since December 2010. June recorded the eighth consecutive monthly fall of the indicator.
Bjorn Jarvis, head of labour statistics at the Australian Bureau of Statistics (ABS), said that the declining unemployment rate coincides with employers reporting high levels of job vacancies and difficulties finding suitable people for them.
“The number of unemployed people fell by 22,000 in June, down to 679,000. This was around 325,000 people below the peak of 1 million unemployed people in July 2020,” Mr Jarvis said.
“The youth unemployment rate decreased by 0.5 percentage points to 10.2%, which was 1.4 percentage points below the rate at the start of the pandemic. The last time we saw a youth unemployment rate of 10.2% was in January 2009.”
On the other hand, there was an increase in employment by 29,000 people in June, less than 50,000 saw over the previous six months. Employment was 1.2% higher in June than at the start of the pandemic.
However, hours worked decreased nationally by 1.8 per cent between May and June. Having fallen in recent months, the underemployment rate increased by 0.5 percentage points to 7.9% in June.
The underutilisation rate, which combines unemployment and underemployment, increased by 0.3 percentage points to 12.8% — the first increase since September 2020. The participation rate was unchanged in June, at 66.2%, and remained close to its historical high of 66.3% in March 2021.
Queensland absorbed 16,700 new jobs in June, the highest increase in the nation and more than half of all jobs created in Australia, according to the State Government.
“Today’s Labour Force jobs data highlights once again that Queensland is the place to work, to do business and to invest,” Treasurer and Minister for Investment Cameron Dick said.
“Our unemployment rate is now at 5.1%, down 0.3 percentage points from last month and at a level not seen in more than 12 years.
Minister for Employment and Small Business Di Farmer welcomed the new data released today.
“Our state has been through some very difficult times thanks to the global pandemic. In July 2020 we had an unemployment rate of 8.7%, so to see that now down to 5.1% shows our significant investment to help Queenslanders get back to work is paying dividends,” Ms Farmer said.
“In human terms, there are 16,700 more Queenslanders in work now than there were in May. That’s life-changing news for 16,700 Queensland families.”