Canberra, May 16 (IANS) Australia’s unemployment rate rose for a second straight month to 4.1 per cent in April.
According to official figures released by the Australian Bureau of Statistics (ABS) on Thursday, the unemployment rate rose from 3.9 percent in March to 4.1 percent in April — the equal-highest rate since January 2022, Xinhua news agency reported.
The rise in the unemployment rate came despite the number of employed Australians increasing by 38,500 people between March and April, with a 44,600 rise in part-time positions partially offset by a 6,100 fall in full-time roles.
In the same period, the number of unemployed people — meaning those who are not employed but are actively looking for work — rose by 30,300 to 604,200.
The participation rate, which measures the proportion of the working-age population who are either employed or looking for work, rose slightly to 66.7 percent in April from 66.6 per cent in March.
“The employment-to-population ratio remained steady at 64.0 per cent in April, indicating that recent employment growth is broadly keeping pace with population growth,” Bjorn Jarvis, head of labor statistics at the ABS, said in a media release.
“This suggests that the labour market remains tight, though less tight than late 2022 and early 2023.”
The total number of hours worked by Australians was 1.96 billion in April — 15 million fewer than in April 2023.
The federal budget handed down by Treasurer Jim Chalmers on Tuesday projected that unemployment would rise to 4.25 per cent by June 2024 and to 4.5 per cent by June 2025.
–IANS
int/svn
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by TodayIndia.news and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of TodayIndia.news We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, TodayIndia.news takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.
