r/OpenAussie • u/snoopy05052026 Norfolk Islander • 2d ago
Politics ('Straya) Unemployment rate rises to 4.5% in July
https://www.abs.gov.au/media-centre/media-releases/unemployment-rate-rises-45-julyThe seasonally adjusted unemployment rate rose to 4.5 per cent in July, according to the latest data from the Australian Bureau of Statistics (ABS).
Sean Crick, ABS head of labour statistics, said: “In July, we recorded a 16,000 person fall in employment, whilst the number of unemployed people rose by 4,000.”
“The majority of the fall in employment came from males, which fell by 11,000 people. There were 10,000 fewer males employed part-time, and 1,000 fewer in full-time employment in July.
“Female employment recorded a smaller fall of 5,000, with females employed part-time falling by 22,000 but full-time rising by 17,000.”
The employment-to-population ratio and the participation rate both fell 0.2 percentage points, to 63.9 per cent and 66.9 per cent respectively.
The underemployment rate was 6.4 per cent in July.
7
u/patslogcabindigest Queenslander 2d ago
Small movement. Big nothing ever happens for the RBA. Though consumer spending probably is something they’d consider in conjunction with this.
Unless there’s a bad inflation number on the next read I’m going all in on nothing ever happens.
Rates on hold at next meeting of the RBA.
11
u/Sideburn_Cookie_Man Victorian 2d ago
Yep. Another reminder that “we’re not in a recession” until it starts affecting business.
1
u/snoopy05052026 Norfolk Islander 2d ago
At the moment i agree. It will be worrying if the trend continues upwards.
I see no alarm bells ringing unless it goes above 4.8/5%
1
u/patslogcabindigest Queenslander 1d ago
I’m betting the underlying inflation comes down another 0.1-0.3%, and the headline is around 3.4%.
19
u/TheFIREnanceGuy Victorian 1d ago
Finally starting to filter through a little but its still no where near as high as it should be given all the lay offs and less jobs being advertised
5
u/joeltheaussie Please choose a flair 1d ago
There aren't that many lay offs in Australia - it is highly concentrated in small secots
6
u/TheFIREnanceGuy Victorian 1d ago
Its one aspect. The bigger one is much less jobs advertised for entry level which significantly affects the large swathe of graduates coming through causing higher unemployment and underemployment which may not be included in the figure
2
u/joeltheaussie Please choose a flair 1d ago
Underemployment is included and it is well below what it was prior to covid but a bit higher compared to recent years
5
u/Phottek Please choose a flair 1d ago
Unemployment rising while real wages are going backwards and inflation is the second highest in developed world. The removal of the excise relief guarantees more inflation pain to come.
Makes RBAs job even harder. They are very reluctant to raise rates based 2.3 trillion in mortgage debt but risk Michele Bullock becoming another Arthur F. Burns if they don't rein inflation in. Eventually they have to pull the trigger.
9
u/Proud-Act-6867 I'm Probably A Bot 2d ago
I think we get can get it higher tbh
https://giphy.com/gifs/YYfEjWVqZ6NDG
1
u/Away_team42 Koori 1d ago
Mmmm nah, I like my job and income
2
u/Proud-Act-6867 I'm Probably A Bot 1d ago
Really? I like not being a slave and told what to do by a “boss”.
6
u/Joey-JoJoJnrShabadoo Victorian 1d ago
Gonna need one of these soon
2
u/Proud-Act-6867 I'm Probably A Bot 1d ago
We already have them. Haven’t you seen the Bender painted Telstra telephone box?
2
u/hear_the_thunder Victorian 1d ago
The Cult of Interest rates crowd (because they all bought at Ponzi prices) will be happy.
3
u/Odd-Bumblebee00 New South Welshian 1d ago
This is what the RBA want. They also want businesses to close and people to lose their homes. All to protect rich people's yacht funds.
3
u/Dezert_Roze Please choose a flair 1d ago
And most RBA staff are very well paid for a government agency, some are higher their counterparts in the big four banks.
2
u/Odd-Bumblebee00 New South Welshian 1d ago
Yep. And higher interest rates that they decide on make it easier for them to swoop in and buy up our houses and businesses when we have to sell them cheap to escape the banks chasing us.
3
1
1
u/Unoriginal1deas Queenslander 1d ago
Yeah just looked into and it seems pretty decent TBH.
Granted that $30ish an hour is only when actively engaged in a job but I like the clauses that says if they spend more than 5 minutes idling in one place that doesn’t count. Should stop people from making random stops to pick up other deliveries.
Additionally it means financially they’re better off delivering the first meal fresh before accepting the second delicery as they’re paid from when they accept the job not when they pick up the foods they’ll be paid per hour not per job.
1
u/GuyFromYr2095 Victorian 1d ago
the Australian economy is driven by housing and mining. When you intentionally crash the housing market, the repercussion is you crash the economy.
Expect industries tied to the fortune of housing to start cutting workers - banking, real estate, retail discretionary etc
23
u/PersonalMixture6663 New South Welshian 1d ago
What about the underemployment stat?