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National Unemployment 10 Year Low
By Scott Van Heurck - 15 Jul, 2021
The national unemployment rate has hit its lowest point in a decade which is a very positive indicator for the economy in general and as the country’s economic rebound from Covid-19 gathers pace. Figures released by the ABS (http//abs.gov.au) today shows the rate for June 2021 is at 4.9 per cent and is its lowest point since December 2010. According to the federal Treasurer, wages growth would be difficult to achieve until the unemployment rate was below 5.0 – here we now are!
Western Australia recorded an unemployment rate of 5.1 per cent which was up from the May figure of 4.7 per cent. Some of the key statistics released by the Australian Bureau of Statistics today include:
- Underemployment actually increased
- Participation rate remained fairly steady
- Employed persons increased to 13,154,200
- Monthly hours worked decreased by 33 million
- Employment is 159k people higher than March 2020
- Over the year June to June employment increased 6.3%
- Victoria has the lowest unemployment at 4.4% (May 4.8%)
- Queensland and New South Wales also recorded 5.1%
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