More than 50,000 jobs were created in Australia in June
Australia’s employment rose in June with the addition of 50,000 jobs, marking the nation’s largest month for expansion since 2017.
Of the new employment, 82.4% were full-time at more than 41,200 positions, whilst more than 9,700 were part-time jobs, ABC reported.
“Not only was employment growth strong, up 50,900 people, but over 80 per cent of that rise was due to full-time roles,” stated Callum Pickering, Economist for Asia Pacific at Indeed.
Work hours rose despite the hours worked per person remained similar to previous months, with June recording a 0.6% increase with an additional 10.7mn hours.
June saw the nation’s unemployment rate continued to remain stable on a seasonally adjusted basis at 5.4%.
However, unemployment for youth dropped by 11.3% last month, the lowest rate in the country for six years, since April 2012.
“With 95,200 young people getting a job in the last financial year, that is the best financial result in 30 years, since 1988/89,” remarked Scott Morrison, Australia’s Treasurer.
“These are excellent youth unemployment figures and it is great to see young people getting jobs, because a young person who is getting onto a job before the age of 24, that is a young person who doesn’t look forward to a life on welfare.”
- Top 10 leading smart cities in APAC: Singapore to SydneyTechnology
- Cisco, Hilton, Atlassian named best workplaces in AustraliaHuman Capital
- Cost control main priority as Australia CFO optimism fallsCorporate Finance
- These six CEOs are Australia’s highest-earning – here’s whyCorporate Finance