Australia’s unemployment rate dipped 0.2 to 5.6% in March, its lowest rate since pandemic restrictions kicked in a year ago.
The unemployment rate was driven down 0.2 points from February levels thanks to the addition of 70,700 extra jobs.
But the Australian Bureau of Statistics acknowledges the loss of JobKeeper will be represented in next month’s figures.
Australia tacked on 70,700 extra jobs in March, driving unemployment down to 5.6% – and marking the lowest unemployment rate recorded by the Australian Bureau of Statistics (ABS) since coronavirus restrictions took hold a year ago.
In its latest labour force figures, released Thursday, the ABS reports the unemployment rate fell by 0.2 points in March.
Peter Martin, Visiting Fellow at the Crawford School of Public Policy, Australian National University, wrote in the April 13
Conversation that this price surge is not being driven by a shortage of houses or by people seeking to buy homes. Rather, it is the result of price bubble fuelled by landlords and speculators.
This speculation has been encouraged by pro-landlord laws limiting capital gains tax and encouraging negative gearing as well as by record low interest rates. This has triggered a boom in landlordism and rising housing prices.
“What appeared to set things off was a decision by Prime Minister John Howard in 1999 to halve the headline rate of capital gains tax,” Martin wrote.
House commencements at 20-year high: ABS By Malavika Santhebennur 15 April 2021
The total number of dwelling units commenced spiked in the December quarter, driven by a 20-year high in detached house starts, according to data.
The Australian Bureau of Statistics (ABS) has released data on building activity for the December 2020 quarter, which showed that the seasonally adjusted estimate for the total number of dwelling units commenced rose by 18.6 per cent to 51,055 dwellings.
The ABS attributed this increase to private sector houses, which rose by 26.6 per cent to a 20-year high of 33,761 dwellings.
Private sector other residential dwelling commencements rose by 4.1 per cent to 16,049 dwellings, recovering slightly from a 4.7 per cent fall in the September quarter, it said.
Date Time
Statistics showing arrivals into Australia
Recent media reporting indicating more than half of all international arrivals into Australia are foreign nationals is misleading, and is contrary to responses the Australian Border Force (ABF) has provided to journalists.
The Government’s first priority is bringing Australians home.
Australia’s travel restrictions and travel exemption policy settings support the return of as many Australians as possible by ensuring travel into Australia by a foreign national is limited by the exemption criteria.
The ABF analysis indicates on average, over 80 per cent of arrivals required to quarantine within the hotel quarantine caps are Australian citizens, permanent residents (PRs) or their immediate family.
Australia Jobless Rate Sinks To 5.6% In March
The unemployment rate in Australia was a seasonally adjusted 5.6 percent in March, the Australian Bureau of Statistics said on Thursday.
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