Australia: Unemployment rate rises less than expected in March
Latest reading: The seasonally adjusted unemployment rate edged up to 4.1% in March from February’s downwardly revised 4.0%, falling short of market expectations. Still, the number of employed people rose by 32,200 in March in seasonally adjusted terms, swinging from the 57,400 fall recorded in February; both full-time and part-time employment rebounded in March.
Meanwhile, the seasonally adjusted labor-force participation rate inched up to 66.8% from February’s downwardly revised 66.7%—surprising markets on the downside—while the underemployment rate was unchanged at 5.9%.