Australia Unemployment March 2022

Australia

Australia: Unemployment rate stable at over 13-year low in March

April 19, 2022

Seasonally-adjusted employment increased by 17,900 in March, following 77,400 jobs added in February. March’s result was driven by an increase in full-time employment more than offsetting a slight decline in part-time employment.

Meanwhile, the seasonally-adjusted unemployment rate remains table at February’s 4.0% in March. Meanwhile, the participation rate also remained unchanged at the previous month’s 66.4% in March, while the seasonally-adjusted underemployment rate fell to 6.3% in March from 6.6% in February.

FocusEconomics panelists project the unemployment rate to average 4.3% in 2022, down 0.1 percentage points from last month’s estimate, and 4.6% in 2023.


Author: Massimo Bassetti, Senior Economist

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