Improvements on the Australia’s Unemployment Rate

Improvements on the Australia’s Unemployment Rate

The good news is the Australia’s unemployment rate has defied economists’ predictions that unemployment rate would reach the 5.9% rate from the 5.8% in the month of February.

The total number of people landing jobs had risen by 26,100 beating the market expectations of a rise of 20,000. Based on the Australian Bureau of Statistics report, the unemployment rate in March is 5.7%, which is the lowest rate since September 2013.

Full-time employment rate, however, fell to 8,800, while the part-time jobs is up by 34,900.

According to Employment Minister Michaelia Cash, during the past 12 months, there is a 2.2% increase in the number of employed people and 4.6% decreased for the unemployed. “So when a Coalition government is able to implement its economic agenda, you can clearly see it’s one of job growth and job creation,” she added during an interview.

South Australia’s unemployment rate fell from 7.6% in February to 7.2% in March, but remained the highest in Australia. For the 10th month, on the other hand, New South Wales remained to be the lowest rate of unemployment across the nation at 5.3% in March.