Australia Sees Drop in July Unemployment Rate
(MENAFN) Australia’s unemployment rate fell to 4.2 percent in July, marking a slight dip from 4.3 percent in June, as female workforce participation surged to an all-time high, according to data released Thursday by the Australian Bureau of Statistics (ABS).
The ABS reported that the nation saw a net increase of 24,500 jobs between June and July, contributing to a substantial 263,700-job growth over the past year.
Full-time employment grew by 60,500 positions from June to July, although this was partially offset by a 35,900 drop in part-time jobs. Notably, female full-time employment rose by 40,000, driving the female employment-to-population ratio and the participation rate to record highs of 60.9 percent and 63.5 percent, respectively.
Meanwhile, the total number of hours worked across Australia saw a modest 0.3 percent increase in July compared to the previous month.
The Reserve Bank of Australia projected in its latest forecast that the unemployment rate will stabilize at approximately 4.3 percent throughout 2026 and 2027.
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