Australia’s Unemployment Rate Falls to 4.2 pc

CANBERRA: Australia's unemployment rate fell to 4.2% in July as female participation in the workforce hit a record high.

Official monthly figures published by the Australian Bureau of Statistics (ABS) on Thursday revealed that the unemployment rate was 4.2% in July, down from 4.3% in June.

The ABS said that the number of employed Australians increased by 24,500 between June and July, and by 263,700 in the 12 months to July.

It said that the number of Australians employed full-time grew by 60,500 from June to July, which was slightly offset by a 35,900 decline in the number of people employed on a part-time basis.

Female full-time workers grew by 40,000 between June and July, the ABS said, and the female employment-to-population ratio and participation rate reached new record-highs of 60.9% and 63.5%, respectively.

The total number of hours worked by Australians was 0.3% higher in July than in June.

The Reserve Bank of Australia, the country's central bank, said in updated forecasts released on Tuesday that it expects the unemployment rate to stabilise at around 4.3% over 2026 and 2027.  

By RSS/Xinhua