Drop in unemployment rate shows ‘strong resilience’ in Australian economy

Finance Minister Simon Birmingham says the unemployment rate dropping to 4.6 per cent shows a “strong resilience” in the Australian economy.

“I think these latest figures show couple of things, they show that there is a … really strong resilience across the Australian economy, that it shows that we do continue to come back strongly after different lockdowns or interruption to economic activity that we’ve seen," Mr Birmingham told Sky News Australia.

“But they also show that the economic support the federal government is providing is hitting the right marks, it’s keeping people off unemployment queues. And you can see that in terms of the New South Wales impact.

“And when we’ve got some 3.1 million payments that have been made as part of the individual targeted tailored economic support arrangements we’ve put in place, we know … that is hitting the mark.

"And in doing so, we’re providing enormous financial relief to individuals, to households, also to businesses through the partnership arrangements we’ve got with the states.”