Labour Market Update March 2022 quarter

Despite the outbreak of Omicron in December 2021 and into early 2022, the labour market has remained resilient, reflecting strong growth in both labour demand and supply. Over the 3 months to March 2022:

• total employment rose to a record high
• the participation rate and the employment-to-population ratio also rose to equal record highs
• the unemployment rate fell to its equal lowest rate since 1974
• the underemployment rate fell to its lowest rate since 2008 and
• internet job advertisements have reached their highest level since 2008.

Table 1: Key labour market indicators, March 2022, and change since March 2020

Source: ABS, Labour Force, Australia, March 2022, seasonally adjusted data