Labour Market Update March 2022 quarter

Ongoing growth in labour market activity

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

Employment

Monthly hours worked in all jobs

Labour force

Unemployment rate

Participation rate

↑ 3.0%

 13,389,900

↑ 2.2%

1,803.2 million hours

↑ 1.6%

13,941,200

↓ 1.3% pts

4.0%

↑ 0.6% pts

66.4%

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

Report download

NSC22-0062_LMQ-March 22_FA_ACC.pdf
Labour Market Update March 2022 quarter
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Publication Date
16 May, 2022
TRIM Reference
N/A