The jobless rate has inched 0.1 percentage points higher to 3.8 per cent, with 7000 jobs disappearing from the economy in March. The participation rate fell to 66.6 per cent from 66.7 per cent in February, according to official labour force data from the Australian Bureau of Statistics. “With employment falling by around 7000 people and the number of unemployed rising by 21,000 people, the unemployment rate rose to 3.8 per cent,” ABS head of labour statistics Bjorn Jarvis said.
“However, in March, the flows into employment had returned to a more usual pattern,” the ABS said. Jarvis said 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. To keep the unemployment rate steady at a time of strong population growth, Australia needs to be adding about 33,000 jobs a month.
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