Australia’s jobs market is pumping, with unemployment at a technical 48-year low, female unemployment solidly at a 48-year low, participation at a record high and youth employment the highest in 14 years.
“Without a comprehensive strategy to address workforce shortages, businesses who are already stretched with an ultra-tight labour market will be pushed to breaking point,” ACCI chief executive Andrew McKellar said. Unemployment in March remained steady at 4 per cent in rounded terms, but in technical terms fell to 3.954 per cent, the lowest level since 1974. Female unemployment fell to 3.7 per cent, also the lowest since 1974.However, at 62.2 per cent, the female participation rate is well above the 43.5 per cent it was when records began in 1978.
However, the figure is the total number of people who held three jobs over the 2018-19 financial year, rather than in a particular month or quarter.report showed that in 2018-19 a total of 2.3 million people held multiple jobs over the whole year. However, according to the ABS Labour Account, the number of people who held multiple jobs did not exceed 795,000 in any single quarter.
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