Joblessness in Australia down to pre-pandemic levels

Summary

  1. Unemployment in Australia has touched its lowest level since pandemic.
  2. This marks Australia’s biggest decline in joblessness in four years.
  3. It is the third consecutive month of decline in joblessness.

The joblessness in Australia has come down to the pre-pandemic levels, as the country marked its biggest dip in unemployment in four years during the month of April 2021.

At the end of April, 763,177 Australians were unemployed, 8.4% down from 832,737 jobless in March, according to the data released by the Australian Bureau of Statistics (ABS).

                     

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The current reduction in the number of unemployment has dragged the joblessness back to the pre-pandemic level. In the month of February 2020, before COVID-19 struck, there were 761,145 jobless people in Australia. However, as the country imposed lockdown, the joblessness spiked to 994,680 in July 2020.

This is the third consecutive month when joblessness in Australia has dropped. The dip in April was the largest in 60 months. The last time unemployment was so low was almost 50 months back in April 2017, when it had dipped by 9%.

Among the unemployed people 411,956 were men, and 351,221 were women. Of the unemployed people, 311,365 men and 215,860 women were looking for a full-time job. However, 31% of the unemployed lot were seeking temporary work.

Meanwhile, ABS reported last week that the unemployment rate in the country has fallen for the third consecutive month to 5.5% as the nation recorded a return from the economic damage wrought by COVID-19.

"We have not seen large changes in the indicators that would suggest a clear JobKeeper impact, such as an increase in people working reduced or zero hours for economic reasons or because they were leaving their job," Bjorn Jarvis, head of labour statistics at the ABS had said in the statement.

Both Australian and State Governments have been trying hard to bring joblessness below the 5% comfort level through budgetary and non-budgetary measures.

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