Jobs market 'incredibly tight' despite rise in unemployment

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Unemployment Rate News

Australian Bureau Of Statistics,Reserve Bank Of Australia,Underemployment

The unemployment rate increased slightly to 3.8 per cent in March, after employment fell by 7,000 people and unemployment rose by 21,000 people.

Australia's headline unemployment rate increased slightly to 3.8 per cent in March, after employment fell by 7,000 people and unemployment rose by 21,000 people.

"Despite a small drop in employment, Australia's labour market remains incredibly tight," said Callam Pickering, APAC senior economist at global job site Indeed. But he said it could still be running "slightly hotter" than the RBA was forecasting a few months ago, and unemployment may have to increase faster in coming months for the RBA to meet its inflation target.

"What I found is that it's really hard getting people through the door because of the crisis at the moment." "According to Seek, the number of applicants per job ad continues to march higher," he said in a note on Thursday.

 

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