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The Australian Bureau of Statistics (ABS) today released its labour force data for March, which showed a steady unemployment rate (still 3.5%) but a 0.4% increase in underemployment (6.2%) off a 53,000 increase in jobs:
Below are the key movements in seasonally adjusted terms:
- unemployment rate remained at 3.5%.
- participation rate remained at 66.7%.
- employment increased to 13,884,400.
- employment to population ratio increased to 64.4%.
- underemployment rate increased to 6.2%.
- monthly hours worked decreased to 1,914 million.
- full-time employment increased by 72,200 to 9,748,900 people.
- part-time employment decreased by 19,200 to 4,135,600 people.
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
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