Australia unemployment rate raises
The Aussie unemployment rate is back up in March after a surprisingly successful jump in February.
Due to 6,600 people no longer being employed, the unemployment rate has risen 0.1% to 3.8% in seasonally adjusted terms.
According to the ABS, despite 27,900 full time jobs being added, 34,500 part-time jobs were cut.
The ABS Head of Labour Statistics, Bjorn Jarvis, said that:
“The labour market remained relatively tight in March, with an employment-to-population ratio and participation rate still close to their record highs in November 2023.”
“While they have both fallen by 0.4 percentage points since then, they continue to be much higher than their pre-pandemic levels.”
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