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The latest Roy Morgan data suggests unemployment fell substantially last month, off the back of young Australians returning to university.
According to the results, in March 2014 an estimated 1.465 million Australians were unemployed, making up 11.6 per cent of the workforce.
March unemployment is down 96,000, 0.7 per cent, from last month, although unemployment is still up 96,000 (0.8 per cent) compared to the same time last year.
“The fall was not unexpected,” said Roy Morgan executive chairman Gary Morgan. “Australian unemployment has now fallen in eight of the last nine years in March as students return to University.”
By age group, unemployment fell most significantly amongst younger Australians: 18-24 year-olds (24.5 per cent, down 3.5 per cent in March) and 25-34 year-olds (10.0 per cent, down 2.4 per cent).
Unemployment also fell amongst older Australians: 50-64 year-olds (7.7 per cent, down 1.6 per cent) and those aged 65-plus years-old (2.7 per cent, down 2.5 per cent).
However, unemployment rose amongst the largest part of the workforce - 35-49 year-olds (11.4 per cent, up 2.5 per cent).
“As these indicators show, the Abbott government’s top priority must be to immediately undertake significant labour market reforms to reinvigorate the Australian economy and provide real hope for unemployed and underemployed Australians,” said Mr Morgan.
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