INSIGHTS
- The seasonally adjusted unemployment rate in Australia increased by 0.1 percentage points to 3.7% in April.
- A 4,000 job loss occurred, and 18,000 more people became unemployed.
- To 64.2%, the employment-to-population ratio decreased by 0.2 percentage points.
- Seasonally adjusted, the underemployment rate dropped 0.1 points to 6.1%.
Australian Bureau of Statistics (ABS) figures show that the country’s seasonally adjusted unemployment rate increased by 0.1 percentage point to 3.7% in April of this year.
According to Bjorn Jarvis, head of ABS labor statistics, employment fell by almost 4,000, while the number of jobless rose by 18,000 during the same period.
He was cited by an ABS statement as stating, “The small fall in employment followed an average monthly increase of around 39,000 people during the first quarter of this year.”
Similar to this, the participation rate dropped by 0.1 percentage point to 66.7 percent, while the employment-to-population ratio decreased by 0.2 percentage points to 64.2%.
“Despite these declines, both indices remained close to their historical highs in and substantially above pre-COVID-19 pandemic levels.
Following a 0.4 point rise in March, the seasonally adjusted underemployment rate decreased by 0.1 percentage point to 6.1%.
In historical terms, the underemployment rate is still low—about 2.6 percentage points lower than it was before the pandemic—and is supported by a quicker rise in hours worked than employment, according to Jarvis.
The combined unemployment and underemployment rate, known as the underutilisation rate, increased slightly to 9.8% but remained 4.2 percentage points below March 2020.
Seasonally adjusted, the number of people working full-time in the nation fell by 27,100 to 9,726,500, while the number of people working part-time increased by 22,800 to 4,155,600.
By- Mansi Suryawanshi
