Australia records lowest unemployment rate since 2008
The unemployment rate in Australia fell to a 13-year low in February, hitting 4% on the back of a large increase in full-time roles.
The jobless rate for women fell to 3.8%, which is also its lowest since May 1974, highlighted the Australian Bureau of Statistics (ABS). The unemployment rate for men was 4.2%, a slight increase from the 4.1% registered in December.
Australia added a net 77,400 jobs in February, with full-time jobs rising by over 4,000 a day, bringing total roles added in the month to 121,900. Part-time jobs fell by 44,500.
“While hours worked rebounded in February, they were still around 0.5% below December, and also still slightly below (0.2%) the pre-Delta period high of May 2021, reflecting a second month of impacts associated with the Omicron variant,” said Bjorn Jarvis, the head of labour statistics at the ABS.
“The number of employed people working no hours over the entire week due to illness or sick leave was around 80% higher than what we would usually see in February, having been around triple the usual level in January,” Jarvis added.