Unemployment rates drop

New figures from the Australian Bureau of Statistics show the national unemployment rate has slightly dropped.

The unemployment rate has gone from 5.4 per cent to 5.3 per cent, despite the loss of four thousand jobs in July.

In Queensland the unemployment rate is up from 6 per cent to 6.1 per cent.


There’s been a strong climb in the full-time employment nationally, increasing by 19 thousand jobs, this has been offset by the loss of 23 thousand jobs in part-time employment.

Australia’s strong labour market provided a slight uplift in wages in the industry.

Economists predict this bump won’t translate to wage growth across the private sector and other industrial industries.

They also predict that continued job creation will help alleviate some of the soaring prices in Australia’s housing market.