A lot of jobs were created in Australia in the past 12 months.
However, despite the hiring spree, unemployment is still elevated at 5.6%.
Indeed, when measured by actual people, total unemployment has actually risen over the past 12 months, increasing by 9,700.
So what gives? Isn’t booming employment growth supposed to lead to lower unemployment?
Usually, but not on this occasion.
As seen in the chart below, the size of Australia’s labour force has also surged over the past year, jumping by 341,900. That’s faster than the increase in employment.
