Unemployment falls again to a new low, but the cause of the fall is not good news

Key points:An estimated 40,900 jobs were lost in July, the first fall in employment since October 2021

"The fall in unemployment in July reflects an increasingly tight labour market, including high job vacancies and ongoing labour shortages, resulting in the lowest unemployment rate since August 1974," Mr Jarvis explained.AMP Capital senior economist Diana Mousina said the numbers seem to be another early indication that the jobs market is near its peak.

The total available jobs fell and so did the unemployment. This only shows that the data collection model is flawed

Spreadsheets are everything! Now full employment or as close as you'll ever get is the bogayman! Best we get more immigration it's going fix those spreadsheets up good! FakeEconomy Spreadsheets are more important than people!

. . If unemployment was low, wage rises would be above inflation. Wage rises are NOT above inflation. The unemployment rate is a LIE. Economics 101. . .

Correct. The lower unemployment rate masks the fact that a whopping 87k full time jobs were lost. This is not a strong labour market. The RBA is driving the Australian economy into a damaging recession that will destroy Australian living standards. ausecon

Barely moved. That’s not good. Seems things are about to turn for the worst. Since Albo took over everything is slowing down and cost of living has started skyrocketing out of control. He really is a liar and needs to focus on real issues rather than bs that no one cares about

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