Unemployment refuses to budge from 5.5%

Disappointing news for those hoping for a recession as employment moved up a little, beating market expectations, and unemployment stayed steady at 5.5%.

Employed persons

Source: ABS

Total employment has been steadily increasing now since the end of 2010.

Emphatically it has been NSW leading the jobs growth with an uplift in employment of 68,500 in the past 12 months (nationally 124,500).

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Employment +10,300 in June

The economy added 10,3000 jobs in June.



Source: ABS

However, the headline unemployment rate ticked up to 5.7%.



Source: ABS

Over the past year, jobs growth has all been about NSW (+81,900) and VIC (+37,100) with not a lot happening in the other states.

Unemployment is highest in Tasmania (8.9%) and QLD (+6.4%).

Overall, not a bad report, but still work to be done - quite literally.

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