Australian employment surged further in July, handily beating forecasts, though the increase was still not enough to offset the ballooning numbers of those looking for work as the jobless rate ticked up to a 22-year high.
FILE PHOTO: A cashier works behind a protective plexiglass shield at a Coles supermarket following the easing of restrictions implemented to curb the spread of the coronavirus disease in Sydney, Australia, June 17, 2020. REUTERS/Loren Elliott
Australia has been one of the few countries in the world with relatively low numbers of coronavirus infections and death. Most states and territories reopened their economies in late May, although a recent resurgence of cases and deaths in Victoria marked an unwelcome setback. Indeed, the participation rate rose by 0.6 percentage points to 64.7%. As a result, the jobless rate climbed to 7.5% from 7.4% in June, highest since late 1998, but below the 7.8% forecast.
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