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As summarised earlier, the Australian Bureau of Statistics (ABS) today released its labour force report for June, which registered a 0.3% increase in the official unemployment rate to 7.4% despite a 210,800 rebound in jobs:
Full-time jobs fell by 38,100, whereas part-time employment rose by 249,000:
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The participation rate rebounded 1.3% to 63.97%, which is why the unemployment rate rose despite the jobs rebound:
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.