Unemployment rate at 3.5 per cent in June

The unemployment rate remained at 3.5 per cent in June (seasonally adjusted), in line with the updated figure for May, according to data by the Australian Bureau of Statistics (ABS).

Bjorn Jarvis, ABS head of labour statistics, said: “With employment increasing by around 33,000 people and the number of unemployed decreasing by 11,000 people, the unemployment rate remained at 3.5 per cent.

“The rise in employment in June saw the employment-to-population ratio remain at a record high of 64.5 per cent, reflecting a tight labour market in which employment has recently increased in line with population growth.

“In addition to over a million more employed people than before the pandemic, a much higher share of the population is employed. In June 2023, 64.5 per cent of people 15 years or older were employed, an increase of 2.1 percentage points since March 2020.”

The participation rate fell 0.1 percentage point to 66.8 per cent from last month’s record high. It fell 0.2 percentage points for women to 62.5 per cent and rose 0.1 percentage point to 71.3 per cent for men.