South Australia's Unemployment at Record Low

0:00On this March 19th in Adelaide, here's what is making headlines. South Australia's unemployment rate ticked up slightly to 4% in February, making it the lowest among all states and second only to the Australian capital territory, nationwide. Nationally, the rate climbed to 4.3%, even as nearly 49,000 new jobs were added, beating expectations for just 20,000. Economists had forecasted the national figure to stay at 4.1%. So this surprised many and showed the job market's ongoing strength. In South Australia, under-employment dropped to 5.9%, though total employment dipped to 995,07, 100 people. The uptick came from fewer unemployed folks starting jobs and more staying jobless, plus shifts toward part-time work, which could help ease inflation. Worries for the Reserve Bank while highlighting a solid labor market. This story is made possible by our sponsor.

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