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Roy Morgan has released its labour force survey for July, which registered a sharp 0.7% increase in unemployment to 8.5% on the back of higher labour force participation. The underemployment rate also rose by 0.1% to 8.6%.
Specifically, unemployment in July increased 121,000 to 1.25 million Australians (8.5% of the workforce) while under-employment was up 44,000 to 1.27 million (8.6% of the workforce). Overall unemployment and under-employment increased 165,000 to 2.52 million (17.1% of the workforce):
Rise in participation lifts unemployment.
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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.
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