Australia’s unemployment rate drops to 5.7 percent in March

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Nathan Andrada – Fourth Estate Contributor

Canberra, Australia (4E) – Australia’s jobless rate declined to a seasonally adjusted 5.7 percent in March, according to a report by the Australian Bureau of Statistics released Thursday.

The unemployment rate in March is the lowest since September 2013, and compared with economists’ estimates for a 5.9 percent rise in March from 5.8 percent in the prior month.

In March, the economy added 26,100 jobs, significantly more that estimates for a gain of 17,000 after a gain of 300 jobs in February.

The participation rate, which measures the number of people who have work or actively looking for one, was unchanged at 64.9 percent but below estimates for 65.0 percent.

The number of full-time jobs dropped 8,800, while part-time employment rose by 34,900.

South Australia’s unemployment rate declined slightly to 7.2 percent in March but continued to be the highest in the country.