Unemployment in Australia in July fell to a minimum for 6 years

Unemployment in Australia fell to 5.3% in July from 5.4% in the previous month, according to figures from the Australian Bureau of Statistics. The July unemployment rate in the country has become minimal for six years. Analysts did not expect the change in the indicator in July. The number of Australian citizens working full-time grew by 19 thousand 300 people per month. The number of partially employed Australians increased by 23 thousand 200 people. The share of labor in the total number of able-bodied population was 65.5% last month, dropping from 65.7% a month earlier. The target level of unemployment for the Reserve Bank of Australia is 5%, which the Central Bank expects to achieve by the end of 2020.

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