The ABS has released the labour force survey for March, which revealed a 0.1% seasonally adjusted fall in the unemployment rate to 6.1%, with the trend rate remaining steady at 6.2% (see below table).
However, last month’s result (previously reported as 6.3% seasonally adjusted and trend) was revised down by 0.1%, thus understating the improvement.
Employment increased a seasonally adjusted 37,700 to 11,720,300, with full-time employment increasing by 31,500 to 8,131,400 and part-time employment increasing by 6,100 to 3,588,900.
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The Participation rate increased 0.1 pts to 64.8%, whereas aggregate monthly hours worked increased 4.8 million hours (0.3%) to 1,630.4 million hours.
I will be back with my usual detailed report shortly.
