- 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