March employment statistics

  • Figures released by the ABS show that employment grew more than expected last month- but a rise in the participation rate kept unemployment steady at 5.9%
  • Number of employed Australians grew by 60,900 in March, based on seasonally adjusted figures, while economists had predicted an increase of only 20,000
  • ABS said employment grew 0.14% in March in trend terms – slightly below the 20 year average growth rate of 0.15%.
  • Annual trend job growth is now 1%- about half the long-term average
  • The participation rate (the number of people either employed or actively looking for work) rose slightly to 64.8%
  • The total hours worked fell by 400,000 hours, with work hours falling for both full-time and part-time workers
  • The Aussie dollar appreciated with news of the data, rising approximately a quarter of a cent to a day high of US75.70c
  • These figures could advance the case for rate hikes later in the year

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s