Unemployment Rate Slightly Grows in July

Australia’s unemployment rate is expected to have a slight increase for the month of July. It is predicted to grow at 5.3 percent from last June’s 5.2 percent. 

Analysts describe the increase as a “mild one,” as the Australian Bureau of Statistics prepares to publish the actual figures this coming Thursday. 

The said figures were surveyed by AAP among economists, and many say that this slight increase understandable. 

About 10,000 workers were supposed to have lost their jobs following routine layoffs and despite positive growths in the economy for the past few months, this was to be expected. 

There is some volatility to employment gains, as one analyst points out, and this includes figures in relation to the country’s unemployment status. 

But another analyst says that the industry should begin to question why the rate of unemployment has not increased substantially. Companies should also look into participation rates and other key demographic factors like retirement and employees who go on studies longer. 

Bigger, wealthier cities were noticeably high on unemployment, which could trigger a “white-collar” recession. 

Meanwhile, other analysts and heads of the industry figure that despite all these, the employment rate will experience a positive growth and will hold quite well since the economy is doing well, too.