The latest jobs data shows Australia’s labour market remains resilient in the face of substantial global economic uncertainty.
The unemployment rate increased marginally over the month, to 4.5 per cent in July, but remains low by historical standards.
Full-time employment rose by 16,300 over the month, with a record 10.2 million Australians in full-time work in July.
There are now 111,800 more people in full-time jobs than a year ago and since 2022 employment growth in Australia has outpaced all other major advanced economies.
These job figures also comes after ABS data released yesterday showed real wages grew in the June quarter and annual nominal wages have now grown above three per cent for four years under this Labor Government.
Quotes Attributable to Amanda Rishworth, Minister for Employment and Workplace Relations:
“Australia’s labour market continues to demonstrate resilience despite ongoing global economic uncertainty.
“Under the Albanese Labor Government, we’ve seen the lowest average unemployment rate of any government in the last 50 years, alongside the creation of more than 1.3 million jobs.
“We know some Australians are still doing it tough, and we’re focused on supporting them.
“That’s why we’ll keep working to create more jobs, lift wages and ensure people have the security they deserve at work.”
Quotes attributable to Treasurer Jim Chalmers:
“New jobs numbers just out show full time jobs were up in July, part time jobs were down and the unemployment rate ticked up slightly.
“It’s unsurprising to see unemployment tick up a bit given the challenges coming at us from around the world.
“The fact that our unemployment rate remains relatively low in the face of so much global uncertainty, reflects the resilience of Australia’s economy.
“More than 1.3 million jobs have been created on our watch, most of them full time. This Albanese Labor Government has overseen the lowest average unemployment of any Australian government in the last half a century.”
