On 18 August 2022, Australian Bureau of Statistics (ABS) has released unemployment rate data for July 2022. The agency reported a 3.4% drop in the seasonally adjusted unemployment rate. The unemployment rate fell for men declined 0.2 percentage points to 3.4%. The unemployment rate remained steady for woman at 3.4%.
The drop in the unemployment rate reflects an increase in tight labour market, comprising high job vacancies as well as constant labour shortages.
The underemployment rate lessened by 0.1 percentage points to 6% and youth underemployment rate increased 0.1 percentage points to 14.1%.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
