Unemployment rate remains at 4.4% in June
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The news: The unemployment rate remained at 4.4% in June, in line with the consensus expectation of 4.4%, according to the latest data from the Australian Bureau of Statistics.
In trend terms unemployment also remained at 4.4%.
The numbers: The total number of employed people rose by 76,000 while the number of unemployed rose by 13,000. Full-time employment grew by 29,300 and part-time employment grew by 47,000.
Hours worked increased by 0.2% in June, following a 1.1% fall in May. The participation rate rose by 0.3% to 67% in June.
The context: Ahead of the data print, economists had noted that unemployment had been gradually lifting over the last few years. The Reserve Bank has previously flagged that its models suggest that it could raise rates “proactively” this year, without significantly impacting on unemployment.
What they said: “Part of the growth in employment this month came from those who were waiting to start a job in May. This represents a stronger June movement than has been observed in recent years,” ABS head of labour statistics Sean Crick said.
“We also continued to see higher numbers of people remaining employed this June, following elevated levels in the recent few months.”
The sources: ABS media release, ABS data
