Road to recovery: Unemployment rate is down to 6.8% after 100,000 jobs were created in August
- Australia’s unemployment rate fell from 7.5 per cent to 6.8 per cent in August
- The economy saw the creation of 111,000 jobs despite the Melbourne lockdown
- Monthly unemployment rate has fallen for the first time since February 2020
The worst of the coronavirus crisis may be over with 111,000 jobs created in August – as unemployment fell for the first time since COVID-19 came to Australia.
The unemployment rate fell from a 22-year high of 7.5 per cent in July to 6.8 per cent last month, the Australian Bureau of Statistics has revealed.
The jobless rate is still higher than March’s 5.2 per cent level, with that data compiled before the World Health Organisation declared a coronavirus pandemic.
Nonetheless, unemployment has fallen for the first time since February when the Australian share market peaked despite Melbourne recording the first case of COVID-19 in January.
The worst may be over with Australia’s coronavirus crisis with 111,000 jobs created in August. Pictured is Sydney Mitre 10 hardware manager Ching Ching
National unemployment also fell despite Melbourne, Australia’s second biggest city, being placed into a strict, Stage Four lockdown with an 8pm to 5am curfew.
Victoria’s unemployment rate of 7.1 per cent was above the national average and the 6.7 per cent level in New South Wales.
The number of Australians officially without work rose above the one million mark in July for the first time ever but in August, the ranks of the unemployed fell by 86,500 to 921,800 people.
Australia’s economy is now also in recession for the first time in 29 years with gross domestic product diving by seven per cent in the June quarter.
The unemployment rate fell from a 22-year high of 7.5 per cent in July to 6.8 per cent last month, the Australian Bureau of Statistics has revealed. Pictured is an unemployed woman at Bondi Junction in Sydney’s east in March 2020