Record Low Unemployment Rates – Struggling with Staffing Challenges

Last month around 88,400 jobs were added to the economy and the unemployment rate dropped from 3.9 to 3.5 per cent. This is the lowest official jobless rate recorded since August 1974. The highest unemployment rates in the nation are in South Australia and Tasmania at 4.3%, with Queensland holding steady at 4% and the Northern Territory at 3.7%.

The low unemployment rates are now leading to economic jams where businesses are being forced to limit their operations due to a lack of available workers.

The competitive job market continues to challenge the retention rate for some companies.

If your business is still struggling with staffing challenges, SBA’s administrative and outsourcing solutions are here to help and reduce your stress.

Want to know more? Get in touch today!

Source: ABC