Business

Unemployment remains at 5.2%

The unemployment rate in Australia remained at 5.2%, described by Mr Shorten as one of the lowest rates in the industrialised world.
The unemployment rate in Australia remained at 5.2%, described by Mr Shorten as one of the lowest rates in the industrialised world. © iStockphoto.com/Izabela Habur
  • 44,000 jobs created in March
  • Unemployment rate at 5.2%, low by international standards
  • participation rate at 65.4%

UP TO 44,000 Australian jobs were created in March, prompting celebration from the Federal Government.

According to ABS figures cited by Minister for Employment Bill Shorten on Friday13/4, the tens of thousands of new jobs eclipsed market expectations taking employment to a "record high".

The unemployment rate in Australia remained at 5.2%, described by Mr Shorten as one of the lowest rates in the industrialised world.

The labour force participation rate also increased in March by 0.2%, delivering a total rate of 65.4% of Australians now working in some form.

Mr Shorten said 790,000 jobs had been created since the ALP took power in late 2007 - something he trumpeted as an "outstanding achievement" as the world grappled with 27 million jobs lost worldwide in the same period.

"The low unemployment rate here in Australia is a testament to the success of Labor's economic management and the resilience of our economy," he said.

"Today's result is particularly encouraging in the face of ongoing global uncertainty and the difficult conditions facing some sectors, like the pressures from the high dollar and cautious consumer."

Topics:  abs, bill shorten, emplyment, participation rate, unemployment


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