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The unemployment rate climbed from 4.9 percent in June to 5.1 percent last month; rising a seasonally adjusted 0.1 percent according to the Australian Bureau of Statistics (ABS).

The ABS reported the number of people employed remained relatively unchanged at 11,450,500 in July, though the number of those unemployed increased by 18,000 people to 611,600 for the month.

Finance Minister Penny Wong told the ABC Australian’s shouldn’t be concerned about the strength of the economy, despite the figures.

“Let’s keep this in context – we’re talking about an unemployment rate of 5.1 per cent,” Wong said.

“Some of our comparable economies are looking at 8 and 9 per cent unemployment, and we’ve created some 750,000 jobs since we came to Government.”

A decrease in full-time employment, down 22,200 people was offset by an increase in part-time employment, up 22,100 people.

The ABS monthly aggregate hours worked series showed an increase in July, up 3.6 million hours to 1,621.4 million hours.

The labour force participation rate in July totalled 65.6 percent.

The male unemployment rate increased 0.2 pts to 4.9 percent, whilst the female unemployment rate jumped to 5.3 percent.

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Lorna Brett

Lorna Brett

Lorna was Dynamic Business’ Social Web Editor in 2011/12. She’s a social media obsessed journalist, who has a passion for small business. Outside the 9 to 5, you’re likely to find her trawling the web for online bargains, perfecting her amateur photography skills or enjoying one too many cappucinos. You can follow her on <a href="https://twitter.com/#!/dynamicbusiness">Twitter @DynamicBusiness</a>

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