Jobs surge!

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The ABS has released Labour Force for March and the news is better:

  • Employment increased 60,900 to 12,059,600. Full-time employment increased 74,500 to 8,238,600 and part-time employment decreased 13,600 to 3,821,000.
  • Unemployment increased 4,000 to 753,100. The number of unemployed persons looking for full-time work increased 2,900 to 528,600 and the number of unemployed persons only looking for part-time work increased 1,100 to 224,500.
  • Unemployment rate remained steady at 5.9%.
  • Participation rate increased by 0.2 pts to 64.8%.
  • Monthly hours worked in all jobs increased 3.2 million hours to 1,664.2 million hours.

Bit of catch-up with private surveys at last. Much more to come.

About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.