Australia’s unemployment rate fell again in July, hitting 3.4 percent–the lowest level in 48 years.
While the unemployment rate for men slipped by 0.2 percent to 3.4 percent, women’s remained unchanged at 3.4 percent compared to June.
In addition, data from the Australian Bureau of Statistics (ABS) indicated that the number of unemployed people in July was slightly lower than the number of job vacancies in May.
“The fall in unemployment in July reflects an increasingly tight labour market, including high job vacancies and ongoing labour shortages, resulting in the lowest unemployment rate since August 1974,” ABS’s head of labour statistics Bjorn Jarvis said….