SYDNEY, Aug 17 (NNN-AAP) – The unemployment rate in Australia rose by 0.2 percentage points to 3.7 percent in July, according to new seasonally-adjusted figures released today.
Australian Bureau of Statistics (ABS) reported that, the number of unemployed ticked up by 35,600 people, while employment dropped by 14,600 people.
The fall in employment follows an average monthly increase of around 42,000 people, during the first half of this year. Employment is still around 387,000 people higher than last July, said Bjorn Jarvis, ABS head of labour statistics.
“July includes the school holidays, and we continue to see some changes around, when people take their leave and start or leave a job. It’s important to consider this when looking at month-to-month changes, compared with the usual seasonal pattern. The only other fall in employment this year, was in April, which also included school holidays,” Jarvis explained.
Despite the number of unemployed people hitting 541,000 in July, Jarvis noted that, it was still lower than before the COVID-19 pandemic.
Data from the ABS also showed that, monthly hours worked jumped by 0.2 percent in July, which partly reflected fewer people than usual taking leave during the school holidays.
The strength in hours worked shows that, it continues to be a tight labour market. Hours worked were 5.2 percent higher than in July, 2022, well above the 2.8 percent annual increase in employment, said Jarvis.
“The strength in hours worked over the past year, relative to employment growth, shows the demand for labour is continuing to be met, to some extent, by people working more hours,” he added.– NNN-AAP
