Australia's Unemployment Rate Has Held Steady Because Job Seekers Are Giving Up

Photo: Getty/Joe Raedle

Australia’s unemployment rate held steady at 5.7% in July but the data is far from positive.

There were 10,200 fewer jobs in July, with jobs lost in both full-time and part-time categories.

Australia’s participation rate fell 0.2% to 65.1%, as the number of people looking for full-time work fell 7,100 to 520,000.

Today’s unemployment figure is within the market forecast of 5.5%-5.8%, but analysts say the data reflects a weakening economy.

There are more figures on the ABS website.

Now read: The Australian Government’s Downgraded Economic Forecasts Are Closer To Market Predictions

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