Australian Unemployment Rate Rises to 4.1% in April, Participation Rate at 66.7%

Australia, Police

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According to the latest data released by the Australian Bureau of Statistics (ABS), the seasonally adjusted unemployment rate in Australia increased by 0.

April 2024.

This rise can be attributed to employment growth of around 38,000 people, coupled with an increase of 30,000 people in the number of unemployed individuals.

The participation rate also saw a slight increase to 66.

Bjorn Jarvis, the ABS head of labour statistics, explained that the rise in unemployment was due to more individuals without jobs actively seeking employment, as well as those who indicated having a job but were waiting to start.

The employment-to-population ratio remained steady at 64.

The underemployment rate rose by 0.

April 2024.

However, it remained 2.

March 2020.

The underutilisation rate, which combines the unemployment and underemployment rates, increased by 0.

In trend terms, employment grew by 31,000 people (0.

April, aligning with the average growth before the pandemic.

The trend participation rate remained at 66.

Both rates have consistently remained high since mid-2022, reflecting a strong labour market.

Overall, the data suggests that the labour market in Australia remains relatively tight, with moderate growth in employment and a steady participation rate.

The ABS will release more detailed regional labour market data in the upcoming April 2024 issue of Labour Force, Australia.

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