Australian unemployment steady at 5.2% and seasonally adjusted employment expanded strongly in March, increasing by 44,000 (well above all market expectations) and employment to a record level

Australia’s unemployment rate held steady at 5.2 per cent in March, data showed Thursday, beating expectations, while 44,000 jobs were created — almost eight times the number forecast.

The news sent the Australian dollar high against the greenback on receding expectations of an interest rate hike.

The Australian Bureau of Statistics (ABS) said the seasonally adjusted jobless rate was static, as 15,800 full-time jobs were filled and 28,200 part-time jobs taken up.

It added that the number of people now in employment stood at 11,491,200.

via Australian unemployment steady at 5.2% – Channel NewsAsia.

TREND ESTIMATES (MONTHLY CHANGE)

• Employment increased to 11,465,700.
• Unemployment increased to 626,800.
• Unemployment rate steady at 5.2%.
• Participation rate steady at 65.3%.

SEASONALLY ADJUSTED ESTIMATES (MONTHLY CHANGE)

• Employment increased 44,000 (0.4%) to 11,491,200. Full-time employment increased 15,800 (0.2%) to 8,080,400 and part-time employment increased 28,200 (0.8%) to 3,410,900.
• Unemployment decreased 3,200 (0.5%) to 629,100. The number of persons looking for full-time work decreased 3,100 (0.7%) to 447,500 and 181,600 were looking for part-time work.
• The unemployment rate remained steady at 5.2%. The male unemployment rate remained steady at 5.1% and the female unemployment rate decreased to 5.3%.
• The participation rate increased 0.2 pts to 65.4%.

Employed Persons

Unemployment Rate

Source:

via 6202.0 – Labour Force, Australia, Mar 2012.