There was an increase of 210,800 employed people (seasonally adjusted) from May and June as COVID-19 restrictions were eased, according to Australian Bureau of Statistics' (ABS) head of labour statistics Bjorn Jarvis.

"The easing of COVID-19 restrictions in June saw an extra 280,000 people in the labour force, with more people in employment, and more actively looking and available for work," he said.

“In June, around 24% of the fall in employment through to May had been regained."

The 280,000 figure is a gross figure and does not account for people who subsequently lost their jobs.

However, 249,000 people rejoined the labour force in a part-time capacity, and there was a decrease by 38,100 in full-time employment. 

Unemployment data is in part measured by people actively looking for work, and in June the participation rate was 64%, up from 62.7% in May.

Hours worked also increased four percentage points in June, and the underemployment rate fell from 13.1% in May to 11.7% in June.

In April, when COVID-19 lockdowns peaked, the unemployment rate was a comparatively low 6.2%, thought to be lowered by JobKeeper and a fall in the participation rate i.e. people withdrawing from the labour force entirely. 

Buying a home or looking to refinance? The table below features home loans with some of the lowest variable interest rates on the market for owner occupiers.

Update resultsUpdate
LenderHome LoanInterest Rate Comparison Rate* Monthly Repayment Repayment type Rate Type Offset Redraw Ongoing Fees Upfront Fees Max LVR Lump Sum Repayment Extra Repayments Split Loan Option TagsFeaturesLinkComparePromoted ProductDisclosure
5.94% p.a.
5.98% p.a.
$2,978
Principal & Interest
Variable
$0
$530
90%
  • Owner Occupier
  • Variable
  • Principal & Interest
  • 10% Min Deposit
  • Redraw
  • Extra Repayments
  • More details
  • Available for purchase or refinance, min 10% deposit needed to qualify.
  • No application, ongoing monthly or annual fees.
  • Dedicated loan specialist throughout the loan application.
Disclosure
5.89% p.a.
5.80% p.a.
$2,962
Principal & Interest
Variable
$0
$0
80%
  • Built and funded by CommBank
  • Owner Occupier
  • Variable
  • Principal & Interest
  • 20% Min Deposit
  • Redraw
  • More details
  • No application or ongoing fees. Annual rate discount
  • Unlimited redraws & additional repayments. LVR <80%
  • A low-rate variable home loan from a 100% online lender. Backed by the Commonwealth Bank.
Disclosure
5.99% p.a.
6.02% p.a.
$2,995
Principal & Interest
Fixed
$0
$0
60%
  • Owner Occupier
  • Fixed 3 Years
  • Principal & Interest
  • 40% Min Deposit
  • Redraw
  • More details
  • Competitive rates to help you save
  • A Dedicated Relationship Manager
  • Certainty of repayments with a fixed rate term
Disclosure
5.93% p.a.
5.93% p.a.
$2,975
Principal & Interest
Variable
$0
$395
70%
  • Owner Occupier
  • Variable
  • Principal & Interest
  • 30% Min Deposit
  • Redraw
  • More details
Disclosure
More home loans
Important Information and Comparison Rate Warning
Important Information and Comparison Rate Warning

Young people experience mixed results

The 15-24 year old age bracket had an increase in the participation rate in June, up 3.9 points to 63.5%.

In June, 101,500 young people found work, however the unemployment rate increased by 0.4 points to 16.4%. 

For the wider labour force, if those that are working zero hours for economic reasons are added to the unemployment rate, that rate would sit at 8.8%, according to the ABS.

More to come with Melbourne lockdowns

Although there were signs of recovery in June, Melbourne experiencing a surge in COVID-19 and the city's corresponding lockdowns could set things back next month, according to Westpac Senior Economist Justin Smirk.

"Looking forward, the June update suggests we are past the worst for job losses and have entered a recovery phase," he said.

"However, that was before outbreak took off in Victoria resulting in the lockdown of the Melbourne regional area.

"And the improvement in employment opportunities has seen workers surge back into the labour force lifting participation.

"Even without the Melbourne lockdown, we would have been looking for unemployment to continue to rise from here on the back of rising participation.

"With that lockdown the risks lie to the higher side of our expectations."