Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
Australian unemployment rose to 3.8% in March, lower than the market’s 3.9% prediction, but up from the prior month’s 3.7%, while employment fell by 6,6000, data from the Australian Bureau of Statistics revealed Thursday.
The market had expected the economy to add 10,000 jobs over March. The Reserve Bank of Australia has forecasted within its February Statement on Monetary Policy that unemployment will reach 4.2% by Q2.
The drop in employment follow’s February’s larger-than-usual job creation, which saw 116,500 people enter the workforce. MNI reported the RBA would aim to look through the volatile February print. (See MNI POLICY: RBA To Look Past Volatile Labour Data)
“The labour market remained relatively tight in March, with an employment-to-population ratio and participation rate still close to their record highs in November 2023. While they have both fallen by 0.4 percentage points since then, they continue to be much higher than their pre-pandemic levels,” said Bjorn Jarvis, head of labour statistics at the ABS.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.