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Australia’s unemployment remains subdued in March

  • April 16 2020
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Australia’s unemployment remains subdued in March

By Cameron Micallef
April 16 2020

Australia’s unemployment rate remains relatively the same for the month of March despite the COVID-19 pandemic, official figures show.

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Australia’s unemployment remains subdued in March

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  • April 16 2020
  • Share

Australia’s unemployment rate remains relatively the same for the month of March despite the COVID-19 pandemic, official figures show.

unemployment

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.

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“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.

Australia’s unemployment remains subdued in March
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About the author

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Cameron is a journalist for Momentum Media's nestegg and Smart Property Investment. He enjoys giving Aussies practical financial tips and tricks to help grow their wealth and achieve financial independence. As a self-confessed finance nerd, Cameron enjoys chatting with industry experts and commentators to leverage their insights to grow your portfolio.

About the author

Cameron is a journalist for Momentum Media's nestegg and Smart Property Investment. He enjoys giving Aussies practical financial tips and tricks to help grow their wealth and achieve financial independence. As a self-confessed finance nerd, Cameron enjoys chatting with industry experts and commentators to leverage their insights to grow your portfolio.

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