Unemployment Rate Remains Unchanged

In February, Australia's seasonally adjusted unemployment rate remained steady at 4.1%, as reported by the Australian Bureau of Statistics (ABS) on Thursday. This figure mirrors the rate observed in the previous month, indicating a stable employment landscape.

Employment Figures Decline

The month saw a decrease in job acquisitions, with 52,800 fewer people securing jobs compared to January's 44,000. Specifically, full-time employment saw a reduction of 35,700 individuals, bringing the total to 10,007,300. Part-time employment also decreased, albeit slightly, by 17,000 to 4,505,900 people.

Positive Shifts in Unemployment and Underemployment

On a brighter note, the number of unemployed individuals decreased by 11,200. Additionally, the underemployment rate saw a positive shift, dropping to 5.9%. However, the employment-to-population ratio also decreased, settling at 64.1%.

Participation Rate Drops

Lastly, the participation rate experienced a slight decline, falling to 66.8%.