Unemployment edged up in March as more people searched for work, which was largely driven by strong population growth.
Already a subscriber?Unemployment edged slightly higher to 3.8 per cent in March as people seeking work rose by 20,600, largely driven by strong population growth outstripping demand for workers.
“The labour market remained relatively tight in March, with an employment-to-population ratio and participation rate still close to their record highs in November 2023,” said head of labour statistics Bjorn Jarvis. The labour market’s strong start to 2024 will be welcomed by the Albanese government, but will provide pause for thought for the Reserve Bank, which is closely watching how it flows through to wages and inflation.
Hours worked rose by 0.9 per cent on a seasonably adjusted basis. It was the second consecutive increase in hours worked.
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