Australias Unemployment Level Hits 22-year High NK#143130

Andrew Cummings
August 14, 2020

Australian work rose even more in July, smoothly beating projections, though the boost was still inadequate to balance out the ballooning varieties of those searching for work as the unemployed rate ticked approximately a 22- year high.

"The July data provides insight into the Australian labour market during Stage 3 restrictions in Victoria".

The July result compares with a rate of 7.4 per cent the previous month and 5.1 per cent in February before the pandemic took hold.

The Australian Bureau of Statistics data shows 114,700 people found employment in July as virus restrictions were eased in most parts of the country.

"The level of improvement observed in the survey results was small but defied the increase in unemployment observed in the Australian community as a whole", he said.

The monthly increase in employment in July was underpinned by a larger increase in part-time employment (71,200 people) than full-time employment (43,500 people).

A worker disinfects a bench at Westmead Hospital amidst the spread of the coronavirus disease (COVID-19) in Sydney, Australia, May 12, 2020. "For the first time there were more than one million people out of work, available to work and actively looking for work", said Bjorn Jarvis, head of Labour Statistics at the ABS.

Employment remained over half a million people lower than seen in March, while hours worked remained 5.5 per cent lower.

"The million Australians now out of a job and the millions more who are either reliant on JobKeeper or anxious about their futures need leadership from this government", she said in a statement.

The increase in unemployment was driven by the number of people actively looking for work surpassing 1 million for the first time in recorded history.

The Reserve Bank expects the unemployment rate to hit 10 per cent by the end of this year and still be about seven per cent in two years time.

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