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Australia’s unemployment rate plunges to just 5.1% – lower than it was before the pandemic

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Australia’s unemployment rate drops to pre-Covid levels of 5.1% – here’s what it means for you

  •  Australia’s unemployment rate has fallen to 5.1 per cent – a level lower pre-Covid
  • The jobless rate was 5.3 per cent in March 2020 shortly before the lockdowns 

Australia’s unemployment rate has fallen to 5.1 per cent – a level lower than before the Covid pandemic. 

In March 2020, shortly before the national coronavirus lockdowns, the jobless rate was 5.3 per cent.

Unemployment in May 2021 fell to 5.1 per cent, a level identical to February 2020 when the share market peaked. 

Australia’s unemployment rate has fallen to 5.1 per cent – a level lower than before the Covid pandemic. Pictured is a Sydney cafe

The Reserve Bank of Australia has repeatedly promised to keep interest rates on hold at a record low of 0.1 per cent until 2024 ‘at the earliest’ as part of a broader plan to keep unemployment below 5 per cent. 

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