The Australian jobless rate remained unchanged at a nearly 50-year low of 3.9 percent in May despite over 60,000 people getting a job.
At the same time, the Australian Bureau of Statistics (ABS) reported the underemployment rate dropped to 5.7 percent, hitting the lowest level since August 2008.
Additionally, the participation rate, which represents the proportion of people in the working-age population that are in the labour force, increased slightly to a record high of 66.7 percent from 66.4 percent previously.
ABS head of labour statistics Bjorn Jarvis said the lift in employment in May marked the seventh consecutive monthly increase after Australian states and territories relaxed their lockdown restrictions in late 2021….