Australia Unemployment July 2021

Australia

Australia: Unemployment drops further in July

August 23, 2021

Seasonally-adjusted employment rose by 2,200 in July, following 29,100 jobs added in June. July’s result was driven by an increase in part-time employment more than offsetting a decline in full-time employment.

Meanwhile, the seasonally-adjusted unemployment rate fell to 4.6% in July, from June’s 4.6%, logging the lowest reading since December 2008 and markedly down from the 7.5% peak reached in July 2020. However, the seasonally-adjusted underemployment rate rose from 7.9% in June to 8.3%. Moreover, the participation rate dropped to 66.0% from June’s 66.2%.

FocusEconomics panelists project the unemployment rate to average 7.2% in 2021, down 0.1 percentage points from last month’s estimate, and 6.2% in 2022.


Author: Massimo Bassetti, Senior Economist

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Australia Unemployment July 2021

Note: Seasonally-adjusted unemployment rate in % and new jobs in thousands.
Source: Australian Bureau of Statistics.


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