Australia’s unemployment rate for February 2023 fell from 3.7% to 3.5%, returning to the same level as December 2022, according to the Australian Bureau of Statistics.
The unemployment rate measures the percentage of people who were looking for work but could not find any.
Underemployment, which measures the percentage of people who could not find as much work as they wanted, also fell from 6.2% to 5.8%.
The number of unemployed people fell by 16,500. The number of jobs rose by 64,600. The difference between these two numbers is because more people were looking for work in February compared to January.