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Everyone works in Australia! Unemployment on the “fifth continent” fell to a 6-year minimum

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Everyone works in Australia! Unemployment on the “fifth continent” fell to a 6-year minimum
August 16
14:00 2018

MarketWatch has published interesting figures regarding the unemployment rate in Australia. So, according to the official data of the Australian Bureau of Statistics, for the first time in six years only 5.3% of the citizens are unemployed. This is 0.1% lower than last month.

Experts did not predict changes in this indicator; a decrease in the number of the unemployed was a surprise. So, last month the number of Australians employed full-time increased by 19.3 thousand people, the number of part-time workers also has grown by 23.2 thousand people.

At the same time, a share of the labor force in the total number of the working-age population has dropped by 0.2% to a value of 65.5% per month.

According to the Reserve Bank of Australia, full employment in the country will be recognized when the unemployment rate reaches 5%. It is assumed that if current trends continue, such satiety of the labor market will happen in about two years.

The material was prepared with the participation of Katya Gordon,
a leading analyst of the brokerage company CT Trade

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