CANBERRA, April 16 — Australia’s unemployment rate remained steady at 4.3 percent in March, according to official data released on Thursday, matching economists’ expectations.
The Australian Bureau of Statistics (ABS) said that the number of employed Australians increased by 17,900 in March while unemployment fell by 3,700, leaving the official unemployment rate at 4.3 percent for the second consecutive month.
The Australian Associated Press (AAP) reported earlier on Thursday that economists were tipping unemployment to remain at 4.3 percent and jobs growth of 25,000.
Sean Crick, head of labor statistics, said in a media release that the growth in employment was primarily driven by full-time workers.
The number of Australians employed full-time increased by 52,500 between February and March, the ABS said, which was partially offset by a 34,600 fall in part-time employment.
As a result of the increase in full-time employment, the total number of hours worked by Australians grew by 0.5 percent to 2.01 billion.
The participation rate, which measures the proportion of the working-age population who are either employed or actively looking for work, fell from 66.9 percent in February to 66.8 percent in March.
The March data was the first for a full month since the start of the U.S.-Iran conflict, but economist Ryan Wells from Westpac bank told the AAP that it was too early for flow-on effects to be showing through labor markets. (Namibia Daily News/Xinhua)
