Unemployment Hits 29 Year Low
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Contrary to the expectations for the coming 12 months - unemployment levels in Australia have reached a 29 year low, with the release of the latest unemploment figures. Today, the Australian Bureau of Statistics (ABS) released its data for June, that indicates that unemployment levels are now at just 5%.The rate in May was 5.1% The participation rate has also increased by 0.2% to 64.7% when compared to May's rate. The lowest rate in the country is in Western Australia, where the unemployment rate now stands at 4.6%. The traditional "engine house" of the Australian economy, the state of New South Wales, has unemployment just above the national figure at 5.1%.
Commentators had been expecting a rise in unemployment to reflect the slight cooling off of the Australian economy that is currently being experienced.
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posted by David @ 1:57 PM
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