Employment Change: +64.6K ... HUGE BEAT!!!

  • +48.5expected K, prior -11.5K

Unemployment Rate: 3.5% ... ditto, beat

  • expected 3.6%, prior 3.7%

Full-Time Employment Change: +74.9K ... this is getting better and better!

  • prior was -43.3K

Part-Time Employment Change: -10.3K ... moving to full time a lot of this

  • prior was +31.8K

Participation Rate: 66.6%

  • expected 66.6%, prior was 66.5%


  • Underemployment -0.4% on the month to 5.8%, its lowest since August of 2008
  • Underutilisation -0.5% on the month to 9.4%, its lowest in 40 years

OK, first things first, this doesn't lock in another Reserve Bank of Australia rate hike at the April (4th) meeting because of all the banking system turmoil, CS the latest niggle. But, sheesh, the CPI is way too high and jobs growth is going gangbusters.


Background to this: