The seasonally adjusted unemployment rate for April 2022 was 3.9%, according to data released today by the Australian Bureau of Statistics (ABS).
Bjorn Jarvis, head of labour statistics at the ABS, said 3.9% is the lowest the unemployment rate has been in the monthly survey. The last time the unemployment rate was lower than this was in August 1974, when the survey was quarterly.
“In April, we saw employment rise by 4,000 people and unemployment fall by 11,000 people. As a result, the unemployment rate decreased slightly in April, though remained level, in rounded terms, with the revised March rate of 3.9%,” he said.
The participation rate also decreased in April, down by 0.1 points to 66.3%, but remained close to the historical highs in February and March.
The result comes as fresh findings from research firm ACA show just how challenging recruitment has become for SMEs.