The trend of falling full-time employment witnessed through from March 2016 seems to have reversed to full-time growth over recent months. The growth uptrend has been reinforced by the latest data released by the Australian Bureau of Statistics (ABS), as per the March 2017 update.
The seasonally adjusted number of persons employed increased by 60,900 in March 2017 and the seasonally adjusted unemployment rate remained steady at 5.9 per cent owing to the rise in participation rate that has been 64.8 per cent. The employment to population ratio remained as is at 60.9 per cent. The number of new jobs tripled with full-time new positions with seasonally adjusted full-time employment of 74,500 persons while 13,600 part-time jobs were found to be lost.
In trend terms, the employment surged by 16,500 to 12,033,400 persons in March 2017. Total employment growth over the year was 1.0 per cent, but this was slightly above the half of the average growth rate of the past 20 years (1.8 per cent). There was a dip in trend monthly hours worked by 0.4 million hours (0.02 per cent) with decreases in total hours worked by both full-time and part-time workers. On the other hand, the trend unemployment rate rose by less than 0.1 percentage points, to 5.9 per cent in March 2017. The trend participation rate also increased slightly, to 64.7 per cent.
Although the employment numbers have been strong, the unemployment rate still raises few concerns among economists.
With the release of the strong data, Aussie dollar witnessed a rise from US75.35 cents to about US75.8 cents.
Employment to Population Ratio (Source: ABS)
The advice given by Kalkine Pty Ltd and provided on this website is general information only and it does not take into account your investment objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. Kalkine.com.au and associated websites are published by Kalkine Pty Ltd ABN 34 154 808 312 (Australian Financial Services License Number 425376). The information on this website has been prepared from a wide variety of sources, which Kalkine Pty Ltd, to the best of its knowledge and belief, considers accurate. You should make your own enquiries about any investments and we strongly suggest you seek advice before acting upon any recommendation. Kalkine Pty Ltd has made every effort to ensure the reliability of information contained in its newsletters and websites. All information represents our views at the date of publication and may change without notice. To the extent permitted by law, Kalkine Pty Ltd excludes all liability for any loss or damage arising from the use of this website and any information published (including any indirect or consequential loss, any data loss or data corruption). If the law prohibits this exclusion, Kalkine Pty Ltd hereby limits its liability, to the extent permitted by law to the resupply of services. There may be a product disclosure statement or other offer document for the securities and financial products we write about in Kalkine Reports. You should obtain a copy of the product disclosure statement or offer document before making any decision about whether to acquire the security or product. The link to our Terms & Conditions has been provided please go through them and also have a read of the Financial Services Guide. On the date of publishing this report (mentioned on the website), employees and/or associates of Kalkine Pty Ltd currently hold positions in: BHP, BKY, KCN, PDN, and RIO. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations.