‘Genuine weakness’: Economists eye gradual rise in unemployment after years of strength
The labour market has been a bright spot in the economy since the pandemic. But unemployment is starting to lift.
The first piece of critical data in weeks is due to be published, with the Reserve Bank about to get a glimpse of how the jobs market is holding up.
Here’s what you need to know about the key economic data releases this week.
New numbers
The data: Labour force, June 2026, Australian Bureau of Statistics
When: Thursday 23 July 2026
What to expect: Australia’s labour market held up strongly during the interest rate hike cycle as the central bank sought to preserve employment gains from the pandemic.
Economists have been wrongfooted many times in thinking this resilience would end.
But the unemployment rate has started drifting upwards more recently and some top forecasters think a weakening is solidly, though gradually, underway.
