Australia’s unemployment rate fell to 3.85%, the lowest level since 1974

Australia's unemployment rate fell to 3.85%, the lowest level since 1974

Two days before the federal election, the pool gave Prime Minister Scott Morrison a big boost. (File)


Australia posted its lowest unemployment rate in 48 years on Thursday, two days before the federal election of Prime Minister Scott Morrison, who is fighting for power.

Unemployment fell to 3.85 percent in April, the lowest level since 1974 – when Flord trousers were in fashion and US President Richard Nixon resigned over the Watergate scandal.

The Australian economy created an additional 92,400 full-time jobs a month, according to the Australian Bureau of Statistics.

This helped reduce the seasonally adjusted unemployment rate in April to 3.93 percent from the previous month.

Many employers say they are struggling to find workers in the tight job market.

“We’re definitely still short of staff,” said Matt Jenkins, human resources manager at Sydney restaurant group Applejack Hospitality.

“I know for chefs, they can have multiple job offers at once. Even the candidates we are talking to have been sitting around with offers for weeks while they are still promoting the market,” he told AFP.

Bruno Goncalves, co-owner of the AIDS restaurant and bar in central Sydney, says hiring experienced staff has been particularly difficult for him.

The reopening of Australia’s international border has resulted in more foreign job seekers being shut down for nearly two years to keep the Kovid-19 virus at bay.

These foreign candidates were mostly inexperienced, they left the business with supervising managers and “new, zero-experienced” staff but very few experienced bars and waiting staff.

Opinion polls show the ruling Conservative Alliance lags slightly behind the opposition Labor Party in a tough electoral race.

But surveys indicate that rising living costs, not employment, are a priority for voters.

Opposition Labor leader Anthony Albanese’s economic credentials have been questioned by Morrison, notably since he forgot the unemployment rate during a questioning of reporters more than a month ago.

Albanese said he supported the minimum wage increase, which was in line with inflation, which had risen to 5.1 percent as prices rose in stores, petrol stations and the housing market.

(Except for the title, this story was not edited by NDTV staff and was published from a syndicated feed.)

Leave a Reply

Your email address will not be published.