As already reported, Australia’s unemployment rate fell 0.1% in August to 4.5% – the lowest reading since December 2008:
However. total jobs fell by 146,300 to 13,022,600 people in August, with full-time jobs falling 68,000 and part-time jobs falling 78,200:
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The reason why the unemployment rate fell despite the heavy loss of jobs is because lockdowns caused an ever bigger fall in labour force participation, which slumped 0.8% to 65.2%:
