38,500 new jobs were created in July, according to the Australian Bureau of Statistics. Despite this, the Australian unemployment rate climbed to a decade high of 6.3 per cent.

While seemingly contradictory these two figures makes sense because the Australian labour force also increased. The work participation rate climbed from 64.8 per cent to 65.1 per cent.

New work was offered in the form of 12,400 full time jobs and 26,100 part time positions.

While the seasonally adjusted figure was higher than expected analysts expected the revised figure to closer to 6.1 per cent.

Australian unemployment has reached 6.3 per cent on several occasions previously: The last time was in January of this year. Prior to that, unemployment hit 6.3 per cent in October of 2014 and September of 2002.

“The broad story,” said Ben Jarman, a senior economist with JP Morgan, “is if you look over the last 12 months, we’ve touched 6.3 per cent unemployment a few times.

“We’re still in that range though admittedly at the top end of it. It’s a bit of a disappointing result in that context.”

Much of the blame is given to Australia’s uncertainty in the wake of the resources boom. Mining enabled the Australian economy to avoid a recession. But as profits from resources dwindle the inevitable recession appears to be creeping closer.

Despite the dour unemployment rates financial experts do not expect the Reserve Bank to change its outlook for the economy. It had predicted unemployment to peak around 6.5 per cent.

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