Advertisement
Not having 180,000 to 200,000 migrant workers flood the labour market each year, as was the case pre-COVID, is doing wonders to Australia’s unemployment rate, which fell to a decade low 4.8% in June:
Australian unemployment rate lowest since June 2011.
Total jobs rose by 29,000 (0.2%) to 13,154,200 people in June, with full-time jobs rising a whopping 51,600, offsetting a 22,500 fall in part-time jobs:
The full text of this article is available to MacroBusiness subscribers
Cancel at any time through our billing provider, Stripe
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.
Advertisement