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The March ABS labour force survey has been released as follows:

  • March employment +70.7k s/adj (Reuters poll: +35.0k).
  • Unemployment rate +5.6 pct, s/adj (Reuters poll: +5.7).
  • Full time employment -20.8k s/adj.
  • Participation rate +66.3 pct, s/adj (Reuters poll: +66.1 pct).

More to come…

”The leading indicators of employment, such as weekly payrolls, job vacancies and the various business surveys had all suggested that the labour demand continued to strengthen through March and into April.

Rising participation is muting the improvement in unemployment,” analysts explained prior to the data.  

Description the Unemployment Rate

The Unemployment Rate released by the  Australian Bureau of Statistics  is the number of unemployed workers divided by the total civilian labour force. A decrease of the figure is seen as positive (or bullish) for the AUD, while an increase is seen as negative (or bearish).