'No reason to panic': Unemployment rate steady despite shock job losses - ABC News

Conor's Corner

"No surprises here — as MyMoneyMedic has been witnessing a spike in private sector unemployment and elevated job insecurity in multiple sectors of the economy for some time now. This is undoubtedly contributing to elevated financial stress levels."

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"Australia's unemployment rate held steady at 4.1% in February, as labour force participation declined.

According to the Australian Bureau of Statistics (ABS), the economy shed 52,800 jobs, defying expectations of a 30,000 increase in employment.

The drop in employment coincided with fewer people working or seeking jobs, pushing the participation rate down to 66.8% from January’s record high of 67.3%.

The ABS partially attributed the decline to fewer older workers returning to the workforce, with employment among older age groups lower than in February 2024.

'This follows higher employment levels in these age groups in recent years, particularly in 2024, alongside growth in the employment-to-population ratio,' said ABS head of labour statistics, Bjorn Jarvis."

Read article: https://www.abc.net.au/news/2025-03-20/unemployment-rate-steady-in-february-abs/105074546?utm_campaign=abc_news_web&utm_content=link&utm_medium=content_shared&utm_source=abc_news_web