Australia Adds 76,000 June Jobs as AAA Rating Holds
Updated
Updated · Daily Kos · Jul 27
Australia Adds 76,000 June Jobs as AAA Rating Holds
1 articles · Updated · Daily Kos · Jul 27
Summary
76,000 Australians found work in June, lifting employment-to-population above 63.5% for a record 51 straight months and reinforcing signs of a still-resilient labor market.
The jobless rate held at 4.43%, staying below 4.5% for 55 months, while participation was 67.01% and underemployment 6.51%, extending its run below 7% to 55 months.
1.33 million jobs have been added since the Albanese government took office, with annual job creation averaging 326,800—though workforce-adjusted growth still trails the Hawke era's 2.49% pace.
Morningstar DBRS last week reaffirmed Australia's AAA sovereign rating, citing a diversified economy, sound policy settings and effective institutions as support for the country's economic outlook.
UBS also ranked Australia fifth globally in average adult wealth at US$616,306, with 1.634 million millionaires and a lower Gini coefficient of 0.53 pointing to slightly improved wealth distribution.