21:42
Australia’s unemployment charge has landed for March, and it’s unchanged from the earlier month at 4.0%.
The economic system added 17,900 jobs however, curiously, the variety of hours labored fell by 10 million, so not all arrows have been pointed upwards.
Peter Hannam
(@p_hannam)To the frustration maybe of some, the March jobless charge has are available unchanged for the month at 4.0% in accordance with the ABS: https://t.co/3UTaM08fnh pic.twitter.com/YiycThC8xY
The jobless charge, after all, was what Labor chief Anthony Albanese chanced on at first of the week.
As Bjorn Jarvis, head of labour statistics on the ABS, stated:
“4.0% is the bottom the unemployment charge has been within the month-to-month survey. Decrease charges have been seen within the sequence earlier than November 1974, when the survey was quarterly.”
“The unemployment charge for ladies fell from 3.8% to three.7%, the bottom it has been since Might 1974. It remained at 4.2% for males, its second lowest degree since November 2008 and simply above the speed from December 2021 of 4.1%,” Jarvis stated.
Extra to return quickly …
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21:14
It’s a good guess that after 11.30am AEST right this moment, Anthony Albanese goes to be briefed on what the March jobless charge is available in at, if he’s not watching the ABS web site too.
In fact, in all probability each politician and pundit within the nation will probably be taking a peek.
As we previewed yesterday, “the market consensus” is anticipating a 3.x% quantity for the unemployment, with 3.9% the doubtless determine.
However a leap or drop within the participation charge could nudge issues both method.
For what it’s price, the February jobless charge was 4.042%, so the ABS informed us after we requested properly, which made that studying the bottom since August 2008 (4.016%), whereas there was technically a “3” studying in February of that yr, at 3.981% for stat nerds.
Anyway, a clear 3.9% may have the ABS dusting off quarterly readings from the mid-70s.
Thoughts you, the RBA will probably be watching intently too, given its board additionally has a gathering on 3 Might to contemplate what to do with the money charge.
In the meantime, as RateCity.com has famous right this moment, two extra of the massive 4 banks, Westpac and ANZ, have lifted their fastened charges once more right this moment.
For Westpac, it’s the second enhance in per week, after rising fastened charges on 7 April. (Not all of its charges have gone up although, with the one-year fastened charge reduce.)
ANZ has lifted its one- to five-year fastened charges by as a lot as 0.60 share factors.
Truthful to say these strikes match within the “extra to return” class.
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