Australia Tasa De Desempleo

Australia's seasonally adjusted unemployment rate ticked higher to 3.8% in March 2024 from February’s five-month low of 3.7% but below market forecasts of 3.9%. The number of unemployed individuals increased by 20.6 thousand to 569.9 thousand, with those seeking full-time jobs rising by 19.3 thousand to 371.3 thousand and those looking for part-time jobs adding by 1.3 thousand to 198.6 thousand. Meanwhile, employment unexpectedly fell 6.6 thousand to 14.26 million, missing the market consensus of a 7.2 thousand gain. Part-time employment dropped by 34.5 thousand to 4.41 million while full-time employment increased by 27.9 thousand to 9.85 million. The participation rate was at 66.6%, down slightly from 66.7% in February. The underemployment rate came at 6.5%, 2.3 points lower than the level in March 2020. Additionally, monthly hours in all jobs rose by 17 million, or 0.9%, to 1,956 million.