SA jobless rate at near six-year low

Irving Hamilton
July 21, 2018

Australia's jobs' market appears to have regained its mojo with employment lifting by more than 50,000 in June, the strongest expansion since late previous year. It was the third consecutive month that the jobless rate fell.

The Federal Opposition argues the government is ignoring under-employment in Australia's jobs market.

Economists and policymakers have been sweating on the data, hoping continued record job creation eventually kicks stagnant wages into gear.

The Australian economy added 50,900 jobs last month - shattering expectations for an increase of 16,500 following the addition of 12,000 in May.

"It is great news for WA that our unemployment level has dropped", he said.

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"This is why we will continue to work hard to get more people in WA working".

Importantly, the bulk of the jobs were full-time (+41,200), while there was more modest growth in part-time positions (+9,700).

But the under-utilisation rate, a combination of unemployment and workers who would like more hours but are not getting them, remains near its peak of 13.8 per cent.

The youth unemployment rate fell to its lowest level since 2012. The 339,000 jobs created in 2017-18 was the best financial year performance since 2014-15.

The bank is widely expected to keep its benchmark lending rate steady at 5.25 percent. Putting it into context, it still caps off a slower first half of 2018 for Australian employment growth than last year's uplift of 3.4%.

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