OECD: Australia’s labour market recovery among world’s best

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The OECD has released its 2021 Employment Outlook, which included the below chart showing that Australia’s labour market rebound has been among the best in the developed world:

Unemployment after COVID

Australia’s labour market rebound better than average.

Not only is Australia’s unemployment rate lower than the OECD average, but it is also one of only a handful of nations where the unemployment rate has recovered to its pre-COVID level.

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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.