Published On: Mon, Jul 19th, 2021
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Australian’s Unemployment Rate Dropped to Decade Low, But Challenges Ahead With Lockdownson July 19, 2021 at 9:04 am

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The prolonged lockdown in Sydney, together with the fifth lockdown in Melbourne, has cast a shadow over the resilience of Australia’s economic recovery despite the Australian unemployment rate dropping to 4.9 percent in June, its lowest level since Dec 2010. According to ABS data released on July 15, the decline in the rate from 5.1 percent in May came as the number of unemployed fell by 22,000, down to 679,000. The drop in unemployment coincides with a further increase in the employment rate, with the number of employed rising by over 29,o00 to reach just over 13 million. Full-time employment also jumped by 51, 600, but was partly offset by a 22,500 decline in part-time workers. ABS head of labour statistics Bjorn Jarvis said the latest data reflected the current dynamic in the labour market. “ The declining unemployment rate continues to coincide with employers reporting high levels of job …

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