The labor force survey from the Australian Bureau of Statistics for March has come as follows:
- Change in employment in March: + 70,700 (Reuters poll: + 35,000).
- Unemployment rate: + 5.6% (Reuters poll: +5.7).
- Full time employment: -20.800.
- Participation rate: + 66.3% (Reuters poll: + 66.1%).
The data is robust, with the figures of change in employment doubling expectations and with optimistic data on the unemployment rate.
Description of the unemployment rate
The unemployment rate published by the Australian Bureau of Statistics is the number of unemployed divided by the working population. If the rate increases it indicates a decrease in the growth of the Australian job market. A rise in the rate indicates a weakening in economic activity. A result below expectations is bullish for the Australian dollar, while a result above is bearish.
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