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Via Credit Suisse’s Damien Boey:
Soft March employment data
Employment came in well below expectations, rising by only 4.9K in March, with February’s 17.5K gain revised down to a 6.3K loss. Full-time employment fell, while part-time employment rose.
Aggregate hours worked rose moderately by 0.3% over the month, taking year-ended growth lower to 3.2% from 3.9%. By state, hours worked rose in NSW, QLD, SA and WA, but declined in VIC.
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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.
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