Australia in March – Unemployment Rate fell to 5.8%

The unemployment rate has fallen to a four-month low, in what is being read as a sign of an improving economy. 

The jobless rate was 5.8% in March, down from 6.1% in February, according to seasonally-adjusted figures from the Australian Bureau of Statistics.

The number of people with jobs rose 18,100 in March after a surprise rise of 48,200 in February.

Full-time employment fell 22,100 in the month and part-time employment was up 40,200.

While encouraged by the surprise fall, the federal employment minister, Eric Abetz, cautioned against reading too much into one month’s numbers because of a decline in the number of people looking for work.

The participation rate – the proportion of the population that has a job, is looking for work or is ready to start work – fell to 64.7%, from February’s 64.9%.

Chosen excerpts by Job Market Monitor. Read the whole story at Australia’s unemployment rate fell to 5.8% in March from February’s 6.1% | World news | theguardian.com.