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Financial News: Australia Jobless Rate Steady At 5.5% In March

Australia Jobless Rate Steady At 5.5% In March

04/18/2018 - 22:16:00 (RTTNews)

(RTTNews) - The jobless rate in Australia came in at a seasonally adjusted 5.5 percent in March, the Australian Bureau of Statistics said on Thursday.

That was in line with expectations and unchanged from the February reading following a downward revision from 5.6 percent.

The Australian economy added 4.900 jobs last month to 12,484,100 - well shy of estimates for an increase of 20,000 following the increase of 17,500 in the previous month.

Full-time employment decreased 19,900 to 8,514,100 and part-time employment increased 24,800 to 3,970,000.

Unemployment decreased 2,400 to 730,200. The number of unemployed persons looking for full-time work increased 9,300 to 522,400 and the number of unemployed persons only looking for part-time work decreased 11,700 to 207,800.

The participation rate fell to 65.5 percent - shy of forecasts for 65.7 percent and down from the downwardly revised 65.6 percent a month earlier (originally 65.7 percent).

Monthly hours worked in all jobs increased 4.5 million hours (0.26 percent) to 1,740.4 million hours.

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