Unemployment Below 4%? Signs Point to Yes

Not long ago, Rover had the honor of being interviewed by Yahoo Finance for an article about Australia’s increasingly shrinking unemployment rate. While so much is being made of the “Great Resignation,” evidence suggests that this isn’t a resignation at all, but more of a restructuring – that people out there are finding new positions in jobs they enjoy that pay them what they feel they deserve.

As of this writing, the unemployment rate in Australia is only 4.2% – an historic low. But our data shows that this may not even be closed to the bottom.

“Our data indicates that new job openings have not slowed down at all despite record unemployment” says Saxon, our leader here at Web Rover. “Job openings are up 44% compared to pre-pandemic levels, indicating that more and more employers are still desperately looking for help. As they continue to hire those that are available, that unemployment rate can shrink to 3.75% or less.”

There’s no denying that the economy is still full of ups and downs, and there is a lot of uncertainty about the future – especially when we factor in things like international conflicts, COVID variants, and other potential threats. But, at least at this point in time, the unemployment rate is the best it has looked since at least the 1970s, and it appears as though it is only going to get better.

We encourage you to read the entire article at Yahoo Finance, and share the post with your friends. It’s reason for optimism, even amidst all the chaos of the past two years.

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