Australia Immigration Professionals: Australia’s Low Unemployment Forecast to Drop Further
Australia Immigration Professionals: Australia’s Low Unemployment Forecast to Drop Further
In recent times, there has been speculation about the unemployment rate in Australia falling even further. This is because of the remarkable rise in full-time positions in the country. This was possible because the Australian economy removed most of the disruptions caused by the Omicron variant in a short time.
In February this year, the Australian Bureau of Statistics reported a reduction in the country’s unemployment rate from 4.2% in January to an adjusted level of 4.0%. The statistics bureau in Australia emphasized that this was the lowest rate to have been recorded since August 2008.
In the same month, the economy added about 77,400 jobs in Australia. The full-time jobs added were more than 4,000 per day, while the part-time jobs were reduced by 44,000. Since more people were looking for work in Australia, the participation rate increased to 66.4%. This resulted in the Australian employment rate getting increased for four months in a row. By this, about 77,000 people were able to secure a position, a record which was 202,000 people higher than the “pre-Delta” high of June 2021. This record was way beyond expectations as the market was expecting 37,000 added jobs in February.
The full-time jobs added were more than 4,000 per day, while the part-time jobs were reduced by 44,000. Since more people were looking for work in Australia
According to the Reserve Bank of Australia, the unemployment rate is predicted to drop further this year. The rate falling below 4% will be the first of its kind since the mid-1970s.
The present state of things in the Australian economy makes this period the best time for anyone to move to Australia. Moreover, there are countless opportunities in the country. The best agency to contact to start your Australia relocation processes is Australia Immigration Professionals.
By contacting Australia Immigration Professionals, you will get to know the requirements necessary to get a visa to start living and working in Australia.
