Australia Jobless Rate Steady at 5.5% in March

Australia's seasonally adjusted unemployment rate stood at 5.5 percent in March of 2018, the same as a downwardly revised figure in the prior month and in line with market consensus. The economy added 4,900 jobs while the number of unemployed fell by 2,400.

In March, the number of unemployed declined by 2,400  to 730,200, as those looking for full-time work increased by 9,300 to 522,400, while those looking for only part-time work dropped by 11,700 to 207,800.

Employment increased by 4,900 to 12,484,100, way below estimates of an increase of 21,000. Full-time employment decreased by 19,900 to 8,514,100, while part-time employment went up 24,800 to 3.970,000. 

The labour force participation rate inched down to 65.5 percent from 65.6 percent in a month earlier and less than expectations of 65.7 percent. 

Seasonally adjusted monthly hours worked in all jobs increased by 4.5 million hours (0.26 percent) to 1,740.4 million hours. Meantime, the seasonally adjusted employment to population ratio edged down to 61.9 from 62.0 percent in February.

Australia Jobless Rate Steady at 5.5% in March

ABS l Rida Husna |
4/19/2018 1:54:46 AM