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Australia March Jobless Rate Falls To 5.8%

Australia March Jobless Rate Falls To 5.8%

Australia posted a seasonally adjusted unemployment rate of 5.8 percent in March, the Australian Bureau of Statistics said on Thursday.

That handily beat forecasts for 6.1 percent, and it was down from 6.0 percent in February.

The Australian economy gained 18,100 jobs in March 18,100 to 11,553,200 - blowing away expectations for a gain of 2,500 following the upwardly revised jump of 48,200 in the previous month (originally 47,300).

Full-time employment decreased 22,100 to 8,029,100 and part-time employment increased 40,200 to 3,524,000.

Unemployment decreased 29,900 (4.0 percent) to 713,200. The number of unemployed persons looking for full-time work decreased 16,700 to 509,800 and the number of unemployed persons only looking for part-time work decreased 13,300 to 203,400.

The participation rate was 64.7 percent - in line with forecasts but down from the upwardly revised 64.9 percent a month earlier (originally 64.8 percent).

Aggregate monthly hours worked increased 8.0 million hours (0.5 percent) to 1,617.2 million hours.

by RTT Staff Writer

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