Unemployment drop a promising sign of recovery

The Australian Bureau of Statistics’ latest employment figures indicate that Australia is on track for economic recovery, with total employment now just 93,000 jobs shy of the pre-COVID peak of 13 million jobs.

“Today’s ABS labour force figures are pleasing and, coupled with the positive job vacancy numbers released last week, show that above all we have a resilient economy and can be cautiously optimistic about the post-COVID recovery,” ACCI’s acting CEO Jenny Lambert said.

“We need to consider this data reflects the situation in December – Queensland’s strong growth of 1.4 per cent could be affected by restrictions in January, a peak trading season for the state.

“It is also important to remember that while some industries are bouncing back, thousands of business particularly in tourism and events remain in critical condition.

“ACCI is consulting with Government on a range of targeted support packages which will be needed for industries that continue to be affected by Government restrictions when JobKeeper comes to an end.”

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