26/08/2026
Australia's labour market held steady in July, retaining most of June's surprise employment gains.
BCEC's latest Monthly Labour Market Update shows the national unemployment rate was effectively unchanged at 4.5%, while full-time employment continued to grow.
The standout result was Western Australia, where employment fell sharply in what may be a sign of labour market softening, a statistical anomaly, or a combination of both.
The update also examines the growing challenge of real wages, which continue to lag inflation, and what this means for households, productivity and the interest rate outlook.
Key insights:
- Labour market remains resilient following June's jobs surge
- Unemployment broadly unchanged at 4.5%
- WA records an unusually large employment decline
- Real wages continue to fall behind inflation
Read the full update for BCEC's analysis 👉 https://bit.ly/MLMUJul26
National unemployment rate essentially unchanged, but rounding pushes the headline figure up from 4.4 per cent to 4.5 per cent. Modest decline in employment marks a solid outcome given the surge in jobs in previous month’s figures. Results impacted by... Read article