Full-time Employment in Australia Jumps by 92,400 Positions
Full-time Employment in Australia Jumps by 92,400 Positions
Even though only the total employment in Australia in April only increased by 4000, there were a lot more involved with this. The increase in employment resulted in a significant decrease in the national unemployment rate. The rate records 3.9 percent and a fall in unemployment by 11,000. This record is the lowest to have been recorded since 1974.
In the same month of April, a report has it that full-time employment increased by 92,400 while part-time jobs decreased by 88,400.
The Australia Immigration Professionals further reported that underemployment reduced by 0.2 percentage points to 6.1 percent.
On the other hand, the underutilization rate decreased by 0.3 percentage points to 10.0 percent. The underutilization rate is the combination of unemployment and underemployment rates.
The record shows that underemployment and underutilization rates have been at their lowest since 2008.
Details about Australia's Working Hours
The Australia Immigration Professionals reported the number of people working fewer hours than usual as a result of bad weather to be 70,000 in April. This record is in contrast with the March peak of over 500,000.
The Covid pandemic is said to be a reason for the reduction in working hours. States other than New South Wales, Queensland and Victoria recorded about 6.9 percent of persons whose working hours were reduced due to sickness. On the flip side, the three states had about 5.1 persons who worked fewer hours as a result of the disease.
These records are reportedly said to be the first raise for the states since January while Covid was ravaging the territories.
Increased Employment Equals a Boosted Economy in Australia
The current trend of more people in jobs in Australia favors her economy. In the words of the Prime Minister, Scott Morrison, “if a person has no job, then such person lacks choices.”
