Australia’s job boom turns bust

Thursday 19 June 2025

Australia’s unemployment rate is currently 4.1%, a historically low figure.

The low unemployment rate has been driven by the boom in non-market (government-funded) roles, such as those related to the NDIS.

The latest batch of data suggests that job growth has stalled, portending rising 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.