Australia’s unemployment rate rises to 5% in March

Australia’s unemployment rate has risen 0.1% to 5% in March, according to the Australian Bureau of statistics (ABS)

Unemployment rate Source: Bloomberg

Australia's trend unemployment rate increased slightly in March 2019 to 5%, according to information released by the Australian Bureau of Statistics (ABS). The unemployment data came in better than expected among some analysts, while others were expecting the figures.

‘In trend terms, we've now seen the unemployment rate at 5.0 per cent for five months and the participation rate holding steady at 65.6 per cent.’ Said, ABS Labour Statistics Program Manager Bjorn Jarvis.

Australian dollar price

The Australian dollar jumped immediately off the back of the jobs data, inching to $0.7200 briefly, climbing to session highs.

ABS data shows that while unemployment rate stayed close to 5%, participation rate lifted to 65.7% from 65.6%, while 25.7 thousand jobs were added to the economy in March.

Full-time employment increased by 18,000 persons and part-time employment increased by 3,000 persons.

Over the past year, trend employment increased 2.4 % above the average annual growth over the past 20 years of 2%.

Over the year, the unemployment rate fell in all states and territories except for Tasmania, the Northern Territory and South Australia.

According to ABS figures, the trend monthly underemployment rate remained steady at 8.2% in March 2019 and decreased by 0.4% points over the year.

Reserve bank of Australia in focus

Analysts will be looking towards the Reserve bank of Australia (RBA) after the unemployment figures rekease, watching for a change in the next interest rate decision. It comes after RBA minutes were released on Tuesday, indicating a rate cut could be probable if the unemployment rate trended higher.

However, analysts suggest the RBA might not see March jobs data as a significant and may not adjust the next rate cut accordingly.


This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.

Start trading forex today

Trade the largest and most volatile financial market in the world.

  • Spreads start at just 0.6 points on EUR/USD
  • Analyse market movements with our essential selection of charts
  • Speculate from a range of platforms, including on mobile

Live prices on most popular markets

  • Forex
  • Shares
  • Indices
Bid
Offer
Updated
Change
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Bid
Offer
Updated
Change
Bid
Offer
Updated
Change
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.

Plan your trading week

Get the week’s market-moving news sent directly to your inbox every Sunday. The Week Ahead gives you a full calendar of upcoming economic events, as well as commentary from our expert analysts on the key markets to watch.


For more info on how we might use your data, see our privacy notice and access policy and privacy webpage.

You might be interested in…

Find out what charges your trades could incur with our transparent fee structure.

Discover why so many clients choose us, and what makes us a world-leading provider of spread betting and CFDs.

Stay on top of upcoming market-moving events with our customisable economic calendar.

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money. Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.