Employment rose in July: Pete Wargent

Employment rose in July: Pete Wargent
Employment rose in July: Pete Wargent

EXPERT OBSERVER

Employment and hours worked rose in July.

Employment was up by an estimated +114,700 or +1.3 per cent to 12.46 million.

However, employment remains -414,000 or -3.2 per cent lower than a year earlier.

 
The rebound in July was mainly driven in July by New South Wales (+57,000).
 
 
There wasn't much change in the calculated unemployment rate, which rose from 7.45 per cent to 7.49 per cent. 

 
The state level numbers are seeing big swings, but Tasmania appears to be faring relatively well, with an unemployment rate of 6 per cent.
 
Many parts of Queensland have been hit by the lack of international visitors, and the state's unemployment rates was estimated to be 8.8 per cent. 

 
Hours worked have recovered by 5.5 per cent since May according the ABS, but still remain -5 per cent lower than a year earlier. 

 
There was better news from Victoria today in terms of virus numbers, with the state having appeared to move past the peak of its second wave. 
 
 
There were very few cases in New South Wales, and other states and territories have been running at zero.

PETE WARGENT is the co-founder of AllenWargent property buyers and a best-selling author and blogger 

Pete Wargent

Pete Wargent

Pete Wargent is the co-founder of BuyersBuyers.com.au, offering affordable homebuying assistance to all Australians, and a best-selling author and blogger.

Tags: 
Employment COVID-19

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