Australia's Unemployment Drops to 4.4%
Australia's unemployment rate fell slightly to 4.4% in May 2026 from 4.5% in April, in line with market expectations. The number of unemployed decreased by 18,300 to 671,300, with both full-time and part-time job seekers declining. This data indicates that the Australian labor market remains relatively resilient, despite the economy being overshadowed by interest rate and inflationary pressures.
On the employment front, the number of employed rose by 40,300 to 14.74 million, exceeding market expectations of a 30,000 increase. However, most of the increase came from part-time jobs, which added 35,200, while full-time jobs only increased by 5,200. This means that while the headline data looks strong, the quality of the labor force recovery is still not fully solid.
Mixed signals were also seen in the participation rate, which rose slightly to 66.7%, while underemployment also rose to 5.9%. Additionally, total monthly hours worked fell by 22 million hours to 2,010 million hours. For the Reserve Bank of Australia, this data could be an important consideration: the job market remains strong, but the decline in hours worked and rising underemployment indicate the economy is not yet completely free from stress. (Asd)
Source: Newsmaker.id
