Australia unemployment holds at 4% as jobs miss forecasts
2022.04.14 05:06
FILE PHOTO: People are silhouetted against the Sydney Opera House at sunset in Australia, November 2, 2016. REUTERS/Steven Saphore/File Photo
SYDNEY (Reuters) – Australia’s unemployment rate held at a 13-year low in March as jobs rose by less than forecast following months of strong gains, though record-high vacancies suggest it is only a matter of time before unemployment falls further.
Figures from the Australian Bureau of Statistics on Thursday showed employment increased by 17,900 in March, when analysts had looked for a rise of around 40,000. All of the gain was in full-time jobs which rose 20,500.
The unemployment rate held at 4.0%, missing forecasts of 3.9% and a disappointment to the government which was hoping to herald the lowest jobless rate since the early 1970s as it fights a close election campaign.
