Australian March jobs report beats estimates

By FXStreet Australia employment change s.a. came in at +26.1K in March, above forecasts of +17k, with the unemployment rate s.a. at 5.7% vs forecasts of 5.9% and 5.8% last. Fulltime employment stood at -8.8k vs previous 15.9K, while part-time employment rose by 34.9k from previous -15.6k. Participation rate was 64.9% vs expected 65.0 and prior of 64.9%.

Key points

TREND ESTIMATES (MONTHLY CHANGE)

Employment increased 7,700 to 11,910,000.

Unemployment decreased 2,800 to 729,600.

Unemployment rate remained steady at 5.8%.

Participation rate remained steady at 65.0%.

Monthly hours worked in all jobs decreased 1.8 million hours to 1,643.7 million hours.

SEASONALLY ADJUSTED ESTIMATES (MONTHLY CHANGE)

Employment increased 26,100 to 11,909,600. Full-time employment decreased 8,800 to 8,180,400 and part-time employment increased 34,900 to 3,729,200.

Unemployment decreased 7,300 to 723,100. The number of unemployed persons looking for full-time work decreased 7,900 to 515,900 and the number of unemployed persons only looking for part-time work decreased 1,800 to 208,400.

Unemployment rate decreased 0.1 pts to 5.7%.

Participation rate remained steady at 64.9%.

Monthly hours worked in all jobs decreased 17.5 million hours to 1,632.3 million hours.
For more information, read our latest forex news. …read more

Source:: FX Street