Australian Dollar Falls as Jobs Data Shows Decline in Full-Time Employment
2021-04-15 01:30:00
Brendan Fagan,
Australian Jobs Data Talking Points:
For the month of March, Australia adds 70,700 jobs against an expectation of 35,000 jobs
AUD/USD declined in immediate trade, following the impressive March jobs data
The official unemployment rate fell to 5.6%, against a consensus of 5.7%
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Australia posted strong employment numbers for March, with headline unemployment falling to 5.6%. Australia added 70,700 jobs in the month of March, which boosted overall labor force participation to 66.3%. Of note, part-time employment increased by 91,100, while full-time employment decreased by 20,800. The notable decline in full-time employment will be of great concern to the RBA, which has been monitoring employment changes closely. Changes in the labor force have been under so much scrutiny that the RBA even mentioned full-time employment data in its February statement.