ABS: Aussie unemployment falls to 48-year low 3.5%

Thursday 14 July 2022

The ABS today released labour force data for June, with Australia’s unemployment rate falling 0.4% to 3.5% – the lowest reading since 1974:

The stunning result was on the back of an 88,400 increase in jobs over the month, alongside a 0.1% increase in the participation rate to another record high:

Key movements are as follows:

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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.