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From the ABS just now.
In seasonally adjusted terms, in July 2024:
- unemployment rate increased to 4.2%.
- participation rate increased to 67.1%.
- employment increased to 14,469,600.
- employment to population ratio increased to 64.3%.
- underemployment rate decreased to 6.3%.
- monthly hours worked increased to 1,961 million.
- full-time employment increased by 60,500 to 10,010,600 people.
- part-time employment decreased by 2,300 to 4,459,000 people.
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Not too bad but the trend is still higher for unemployment. Hours worked have not grown in eighteen months.
About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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