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Unemployment rate falls to 5.5% in April: Australia
The seasonally adjusted unemployment rate fell by 0.2 percentage points to 5.5 per cent between March and April 2021 according to the Australian Bureau of Statistics (ABS). Unemployment
Bjorn Jarvis, head of labour statistics at the ABS, said this was the sixth consecutive fall in the unemployment rate, down from 6.9 per cent in October 2020.
“The unemployment rate is now 0.2 percentage points (or 33,000 people) above the start of the pandemic. Importantly, it’s 2.0 percentage points below its peak in July 2020, when it was 7.4 per cent,” Mr Jarvis said.
“The youth unemployment rate fell to its lowest level since the Global Financial Crisis, reflecting a strong increase in employment for young men, following a number of increases for young women in recent months.”
Australia s unemployment rate has fallen to 5.5 per cent with 13million people now in work. These figures are the first since the end of JobKeeper wage subsidies.
Australia s unemployment rate has fallen to 5.5 per cent as the nation records an unprecedented return from the economic damage wrought by COVID-19.
New data from the Australian Bureau of Statistics (ABS) shows between March and April the nation s unemployment rate fell by 0.2 percentage points.
It s the sixth consecutive fall in the unemployment rate after it peaked in July 2020 at 7.4 per cent.
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Australia s unemployment rate is rebounding far stronger - and quicker - than expected.(Getty)
Australia s unemployment rate is now just 0.2 per cent â or 33,000 people â above where it was prior to the start of the pandemic.
Notably, the ABS said the end of the JobKeeper wage subsidy did not have a discernible impact .
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SYDNEY Australia’s jobless rate fell for a sixth consecutive month in April to the lowest in a year despite a drop in employment as fewer people went looking for work, sending the local dollar and share market climbing.
Thursday’s figures from the Australian Bureau of Statistics (ABS) showed a decline of 30,600 jobs in April, confounding economists’ expectations for a 15,000 increase. The decline was entirely led by part-time positions which slumped by 64,400 while full-time work climbed 33,800.
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The figures also show youth unemployment is now better than at the start of the pandemic, down to 10.6%, one point lower than March 2020.
The Australian Bureau of Statistics said although some people left employment at the end of jobkeeper, it did ânot identify a clear aggregate impact from the endâ of the $89bn wage subsidy program.
In the January quarter, 1.1 million Australians received $6bn of jobkeeper payments, meaning the fiscal cliff faced in April was in fact far smaller than when the payment was reduced in September.
The ABS said there âwere not large changesâ in the jobs figures, although âsome of the underlying movements in the labour market may include some people leaving employment at the end of jobkeeperâ.