Australia’s Unemployment Rate Returns to Record Low in February
An employment surge has seen Australia’s jobless rate fall to a 48-year low across June and December 2022.
According to the latest data from the Australian Bureau of Statistics (ABS), the unemployment rate dropped from 3.7 percent in January to 3.5 percent in February as 64,600 Australians found a job during the period.
“With employment increasing by around 65,000 people, and the number of unemployed decreasing by 17,000 people, the unemployment rate fell to 3.5 percent,” ABS head of labour statistics Bjorn Jarvis said.
“This was back to the level we saw in December.”
Staff at Village Cinema serve customers in Geelong, Australia, on June 22, 2020. (Quinn Rooney/Getty Images)
The participation rate, an indicator of the economy’s active workforce, climbed slightly by 0.1 percent to 66.6 percent, back to its December level….