Unemployment has dipped, but don’t be fooled – the jobs market is weakening

By Jeff Borland, Professor of Economics, The University of Melbourne

For some time now – gradually, but nevertheless relentlessly – the Australian labour market has been weakening.

Today’s Bureau of Statistics employment report, telling us what happened in the month to May, show that direction is unchanged.

Certainly, employment growth of almost 40,000 in the month and a slight dip in the unemployment rate from 4.1% to 4% is good news.

Not only that, the labour market remains in a much better…

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