Jobs growth retraces in March; Feb gain revised up

18 April 2024

 

Summary:  Employment down 6,600 in March, less than expected; Westpac: marks ‘retracement’ from particularly strong February; ACGB yields fall rate-cut expectations firm; MSA: labour market still loosening but pace has slowed materially; participation rate slips back to 66.6%; jobless rate ticks up from 3.7% to 3.8%; fewer part-time jobs, more full-time jobs; aggregate work hours up 0.9%; underemployment rate ticks down to 6.5%. Australia’s period of falling unemployment came to...

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