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Financial News: Australia Unemployment Rate Falls To 4.9% In June

Australia Unemployment Rate Falls To 4.9% In June

07/14/2021 - 21:58:00 (RTTNews)

(RTTNews) - The jobless rate in Australia came in at a seasonally adjusted 4.9 percent in June, the Australian Bureau of Statistics said on Thursday.

That was beneath expectations for 5.0 percent and down from 5.1 percent in May.

The Australian economy added 29.100 jobs last month to 13,154,200 - shy of forecasts for the addition of 30,000 jobs following the increase of 115,200 jobs in the previous month.

Over the year to June 2021, employment increased by 777,900 people (6.3 percent). Employment was 159,400 people (1.2 percent) higher than March 2020.

Full-time employment increased by 51,600 to 9,016,800 people, and part-time employment decreased by 22,500 to 4,137,400 people. Over the year to June 2021, full-time employment increased by 487,200 people and part-time employment increased by 290,700 people.

The part-time share of employment was 31.5 percent, 0.3 pts lower than in March 2020 and 0.4 pts higher than this time last year.

The employment-to-population ratio increased by 0.1 pts to 63.0 percent and also increased by 3.6 pts from the same time last year.

Monthly hours worked in all jobs decreased by 33.4 million hours (1.8 percent) to 1,781 million hours. It also increased by 6.8 percent over the year, which is larger than the 6.3 percent increase in employed people.

The underemployment rate increased by 0.5 pts to 7.9 percent. The underemployment rate was 3.7 pts lower than June 2020, and 0.9 pts lower than March 2020. The underutilization rate increased by 0.3 pts to 12.8 percent.

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