Record number of women are flooding into full-time work across the country, in some areas at twice the rate of their male counterparts, as the jobs market shows no sign of cooling under the weight of high interest rates and inflation.
In figures that suggest the Reserve Bank will consider resuming interest rate rises at its board meeting next month, the Australian Bureau of Statistics on Thursday reported the national unemployment rate was steady in March at 3.5 per cent.Nationally, 72,200 full-time jobs were created last month after more than 74,000 were added in February.
Unemployment among women is at 3.4 per cent, lower than the male jobless rate of 3.7 per cent. Women’s participation rate and the proportion of working-age women in work are also now at record highs. “It made it a bit more appealing because I get a substantial amount more which offsets the cost of daycare, where if I just went back to full-time teaching, the daycare costs wouldn’t have been offset.”Government worker Jenny Burn also recently went into full-time work in July 2022 as the financial security and regular hours helped her plan her life more confidently.
“Near-record low unemployment, the strongest jobs growth for the first six months of a new government on record and the beginnings of wages growth will be important factors in shielding Australians from the impacts of the worsening global economic environment,” he said. The Reserve Bank held the cash rate at 3.6 per cent this month in part to determine the impact of its past 10 consecutive increases. It also paused rate rises to look for evidence of a slowdown in inflation pressures and strength in the jobs market.
“The Reserve Bank will be pleased that the gains in the labour market are continuing, but concerned that it provides an upside risk to inflation over the remainder of the year, given the upside risks to wages. If this were to occur, and if inflation remains stubbornly high, a further rate rise would be warranted.”
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Matildas break 30 game record with huge statement ahead of World CupDespite missing 10 players to injury Sam Kerr has led the Matildas to a stunning 2-0 victory over the European champions sending a message to the competition just 99 days out from the FIFA Women's World Cup.
Read more »
Michael Jordan 1998 NBA Finals sneakers fetch auction record at $3.3 millionA pair of sneakers worn by NBA superstar Michael Jordan sold for $US2.2 million ($3.3 million), setting a record price at auction for game-worn sports footwear, Sotheby's announced.
Read more »
Michael Jordan’s ‘Last Dance’ trainers fetch auction record $2.2mA pair of trainers worn by NBA star Michael Jordan have sold for $2.2m, setting a record price at auction for game-worn sports footwear, Sotheby’s announced
Read more »
Dynamic Dolphin poised to bring the 'Hammer' down on 115-year recordDolphins flyer Hamiso Tabuai-Fidow stands on the verge of history as he chases a try in a seventh consecutive game for the NRL's newest franchise.
Read more »
Michael Jordan's sneakers break staggering record at auctionMichael Jordan's famous size 13 'Bred' Air Jordan XIII sneakers he wore during the 1998 NBA Finals have been sold for a staggering figure at auction.
Read more »