Australia’s unemployment rate has fallen to 4.2 per cent, according to the latest data from the Australian Bureau of Statistics (ABS). Sean Crick, head of labour statistics at the ABS, noted that this decrease occurred alongside record-high female participation in the workforce during July. The data indicates a positive shift in the nation’s labour market dynamics.
According to the ABS, employment rose by 25,000 people, while the number of unemployed individuals decreased by 10,000. This shift resulted in the 0.1 percentage point drop in the unemployment rate. Full-time employment was a major driver of this growth, increasing by 60,000 positions. However, this was partially offset by a decrease of 36,000 in part-time employment.
Breaking down the figures further, the ABS reported that the growth in full-time employment was seen in both male and female workers, with female full-time employment increasing by 40,000 and male full-time employment rising by 20,000. Overall, these changes resulted in a slight increase in the employment-to-population ratio, reaching 64.2 per cent.
While the overall participation rate remained steady at 67 per cent, the female employment-to-population ratio and participation rate both achieved new historical highs, reaching 60.9 per cent and 63.5 per cent respectively. These figures underscore the increasing role of women in the Australian labour market and its contribution to the country’s economic landscape.
