According to the latest data released, the unemployment rate in Australia has increased to 5.6 per cent during the month of March, which is its highest level since September 2009.

The Australian Bureau of Statistics data showed that the total number of employed people in the country fell 36,100 to 11.593 million during the month of March from February, 2013 increasing the unemployment rate to 5.4 per cent. The rate of 5.4 per cent is the highest recorded in the Australian economy since September 2009, when unemployment level had touched 5.7 per cent. The data showed that the total number of full-time work fell 7400 to 8.1 million during the month of March and those in part-time work fell 28,700 in the month.

Some believe that the larger than expected rise in unemployment levels in the country might convince the central bank, the Reserve Bank of Australia to cut rates to boost growth and encourage job creation in the Australian economy. Experts said that the about half of the 74,000 increase in jobs in February were lost in the month of March. Some believe that the job market is weakening mainly due to slower growth in the mining industry.