Business & Economy

Australia records 3.9% unemployment in April, lowest since 1974

Sydney, Australia, May 19 (EFE).- The unemployment rate in Australia fell to 3.9 percent in April, the lowest figure recorded since August 1974, official data shows Thursday, two days before elections that place particular importance on the economy.

The Australian Bureau of Statistics said unemployment fell by 0.1 percent compared to the previous record thanks to the fact that some “11,000 people ceased to be unemployed” and “4,000 jobs” were filled in the month past, which represents the sixth consecutive monthly increase.

Australia – a country of 25.7 million inhabitants that managed to avoid the financial crisis of 2008 and only experienced a brief period of recession during the Covid-19 pandemic – projects economic growth of 4.25 percent in 2022, although the purchasing power of citizens is in decline.

Meanwhile, salaries increased by 2.4 percent between April 2021 and March of this year, according to official data published Tuesday, this increase is doubled by the 5.1 percent rate of inflation registered in the same period.

These figures have skyrocketed the cost of living and have placed this issue as a priority in the electoral campaign ahead of Saturday’s vote.

Voting intention polls anticipate tight elections, although the opposition Labor Party, led by Anthony Albanese, starts with a slight advantage of two percentage points against the Liberal-National coalition, in government since 2013, of Prime Minister Scott Morrison.

Polls open the possibility that none of the political formations, which traditionally share power in Australia, govern alone, so alliances with minority platforms or independent candidates would be necessary. EFE


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