Jobs report from Australia for March 2021

Employment Change: +70.7K ... another huge beat

  • expected 35K, prior 88.7K

Unemployment Rate: 5.6% and another beat

  • expected 5.7%, prior 5.8%

Full-Time Employment Change: -20.8K - this will take some of the gloss off the result

  • prior was 89.1K

Part-Time Employment Change: +91.5K

  • prior was -0.5K

Participation Rate: 66.3% ... higher participation (66.3 is a record high) but nevertheless lower unemployment

  • expected 66.1%, prior was 66.1%

More:

  • Underemployment rate (people with jobs but who would prefer more hours) decreased to 7.9% (prior 8.5%), lowest in nearly 7 years
  • Monthly hours worked increased by 38 million hours
  • employment-to-population ratio increased by 0.3 pts to 62.6%, and has increased by 0.1 pts from the same time last year

A solid report notwithstanding the full time job dip. As I update, AUD is off a touch, as is NZD, EUR, GBP ... USD move not AUD alone.

For background to this, previews: