Roy Morgan unemployment falls to 12.5%

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According to Roy Morgan, Australia’s unemployment rate has fallen to 12.5% from 14.5% as the economy re-opened:

In July 12.5% of the workforce (1.79 million Australians) were unemployed. This is a significant drop of 262,000 on June as the Australian economy – with the exception of Victoria – continued to re-open.

An additional 1.5 million Australians were under-employed (10.5% of the workforce), up 92,000 on a month ago.

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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.