Australia Unemployment Rate

Australia's seasonally adjusted unemployment was at 4.1% in June 2024, up from May's figure which was also market forecasts of 4.0%. The number of unemployed individuals increased by 9.7 thousand to 608.2 thousand, as people looking for part-time jobs rose by 7.5 thousand to 206.4 thousand and those seeking full-time jobs increased by 2.2 thousand to 401.8 thousand. Meanwhile, employment climbed 50.2 thousand to 14.41 million, the most in four months, easily surpassing market consensus of a 20 thousand gain and accelerating from an upwardly 39.5 thousand rise in May. Full-time employment jumped 43.3 thousand to 9.94 million, and part-time employment gained 6.8 thousand to 4.46 million. The participation rate inched higher to 66.9% in June from May's 66.8%. The underemployment rate fell to 6.5% from 6.7% in May. Additionally, monthly hours in all jobs increased by 15 million or 0.8% to 1,967 million.