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Australia’s Unemployment Rate Reaches Lowest Level in Almost 50 Years

Australia’s unemployment rate was the lowest in nearly 50 years in April, according to the Australian National Bureau of Statistics (ABS), as more businesses take on full-time positions. This is a sign that the labor market is tightening. Plus, it will increase pressure on the central bank to raise the benchmark interest rate in the future.

According to the ABS, the unemployment rate was 3.9% in April, unchanged from March.

The number of jobs increased by 4,000 compared to March, with the increase in full-time positions partly due to the decrease in temporary positions.

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