Australia's Unemployment Rate Holds at 4.4%, Jobs Hit Record
Australia's unemployment rate remained at 4.4% in June. This figure matched market expectations and remained unchanged from May, indicating the labor market remains relatively stable.
The number of unemployed rose by 12,700 to 686,800, up from 674,100 in May. Full-time job seekers increased by 13,300 to 457,300, while part-time job seekers decreased by 600 to 229,500.
Conversely, the number of jobs absorbed actually increased sharply. Employment rose by 76,300 to a record high of 14.82 million, far exceeding market expectations of a 15,000 increase. The May data was also revised upward to add 43,900 jobs.
Full-time employment increased by 29,300 to 10.17 million, while part-time employment increased by 47,100 to 4.65 million. The participation rate also rose to 67.0%, higher than May's figure and market expectations of 66.7%, and the highest level since July 2025.
Meanwhile, the underemployment rate edged up to 6.5% from 6.3%. Total monthly hours worked across all occupations also increased by 5 million hours to 2.014 million hours, indicating that labor activity remains quite solid.
In terms of market impact, stronger-than-expected Australian labor data could support the Australian dollar. However, the rise in the participation rate and underemployment rate suggests there is still room for slack in the labor market. For the Reserve Bank of Australia, this data could be an important consideration in determining whether interest rate policy needs to remain tight for longer. (asd)
Source: Newsmaker.id
