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Financial News: Australia Jobless Rate Sinks To 3.5% In June

Australia Jobless Rate Sinks To 3.5% In June

07/13/2022 - 21:38:00 (RTTNews)

(RTTNews) - The unemployment rate in Australia came in at a seasonally adjusted 3.5 percent in June, the Australian Bureau of Statistics said on Thursday - beating expectations for 3.8 percent and down significantly from 3.9 percent in May.

The Australian economy added a whopping 88,400 jobs last month, blowing away forecasts for the addition of 30,000 jobs following the addition of 60,600 jobs in May.

The participation rate climbed to 66.8 percent, also topping forecasts for 66.7 percent - which would have been unchanged.

Full-time employment saw the addition of 52,900 jobs, while part-time jobs gained another 35,500.

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