2024-04-18 02:11:55 ET
- Australia’s unemployment rate rose from a 5-month low of 3.7% in February to 3.8% in March, but below market forecasts of 3.9%, adding some weight to the argument that the Reserve Bank of Australia should start reducing rates this year.
- The number of unemployed individuals increased by 20.6 thousand to 569.9 thousand, with those seeking full-time jobs rising by 19.3 thousand to 371.3 thousand and those looking for part-time jobs adding by 1.3 thousand to 198.6 thousand.
- Meanwhile, employment unexpectedly fell 6.6 thousand to 14.26 million, missing the market consensus of a 7.2 thousand gain.
- ETFs: ( EWA ), ( FXA ), ( FLAU ).
- Currency: ( USD:AUD )
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More on Australia
- RBA minutes: The bank not ruling in or out interest rate moves aims to return inflation target
- Australia reports smallest trade surplus in five months as exports fall while imports grow
- Australia's Monthly CPI inflation softer-than-expected to 3.4% in the year to February 2024
- Australia's March services PMI rises to 53.5, manufacturing PMI eases to 46.8
- Australia GDP grows 0.2% q/q as expected in Q4
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Australia's jobless rate rises to 3.8% in March