Australia's unemployment rises to 4.1 pc in March

CANBERRA: Australia's unemployment rate rose slightly in March, according to official figures released on Thursday.

The Australian Bureau of Statistics (ABS) reported that the unemployment rate increased to 4.1% in March, up from 4.0% in February. In trend terms, which smooth out seasonal fluctuations in employment, the rate has remained steady at 4.0% for five consecutive months.

The ABS stated that the number of employed Australians rose by 308,000, or 2.2%, over the past 12 months, surpassing the pre-pandemic 20-year average of 2.0%. Between February and March, the number of employed Australians increased by 32,200, which was slightly offset by an additional 3,000 unemployed people during the same period.

Treasurer Jim Chalmers expressed his satisfaction with the figures, describing them as "really powerful" and a reflection of the progress made in the economy. Speaking in Brisbane while campaigning for the general election on May 3, he highlighted the significance of the data.

Sean Crick, Head of Labour Statistics at the ABS, noted that the employment-to-population ratio remained stable at 64.1% in March, while the participation rate, which measures the proportion of the working-age population either employed or actively seeking employment, edged up to 66.8%.

Despite the overall increase in employment, Crick reported that the total number of hours worked by Australians fell by 0.3% in March. He attributed the decline to major weather events in New South Wales and Queensland, including the impact of severe Tropical Cyclone Alfred.

By RSS/Xinhua