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Australia’s unemployment remains subdued in March
Australia’s unemployment rate remains relatively the same for the month of March despite the COVID-19 pandemic, official figures show.
Australia’s unemployment remains subdued in March
Australia’s unemployment rate remains relatively the same for the month of March despite the COVID-19 pandemic, official figures show.
Numbers released by the Australian Bureau of Statistics have shown that trend unemployment has remained steady at 5.2 per cent, although it is likely to be worse in April due to the timing of when the figures were collated.
ABS chief economist Bruce Hockman said: “Today’s data shows some small early impact from COVID-19 on the Australian labour market in early March, but any impact from the major COVID-19-related actions will be evident in the April data.”
The latest SEEK Employment Report shows an overall decline in job ad volume, down -33.9 per cent year-on-year to March 2020.
The industries contributing most significantly to the overall decline in job ads are trades and services, information and communication technology, and hospitality and tourism.
“The coronavirus pandemic has caused widespread disruption to the labour market, and SEEK is seeing a range of industries respond in very different ways,” said Kendra Banks, managing director at Seek ANZ.
“Our advice for jobseekers is to keep your SEEK profile up to date and follow the application process. Employers have been inundated with applications, so standing out and being competitive by tailoring your resume to the job ad, being clear about your skills and experience, which directly align to the job you’re applying for, throughout the recruitment process is vitally important.”
nestegg has previously written about the seven sectors that are bucking the unemployment trend.
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