ONLY CHARTS #106

Aus labour market, Aus population

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1. Australia’s unemployment rate fell nearly 0.1ppts to 4.0% in May and the employment-to-population ratio was unchanged at 64.1%.

The ABS noted that “[i]n April we saw more unemployed people than usual waiting to start work. Some of the fall in unemployment and rise in employment in May reflects these people starting or returning to their jobs”.

The unemployment rate is tracking in line with the RBA’s forecasts.

Among high household debt economies, the resilience of Australia’s labour market continues to stand out.