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Australia March employment unexpectedly falls 6,600, jobless rate ticks up to 3.8%

Published 04/17/2024, 09:41 PM
Updated 04/17/2024, 09:55 PM
© Reuters. FILE PHOTO: People are silhouetted against the Sydney Opera House at sunset in Australia, November 2, 2016.   REUTERS/Steven Saphore/File Photo

SYDNEY (Reuters) - Australian employment fell in March after an enormous gain the month before while the jobless rate resumed its uptrend, a sign that the hot labour market was still on track to loosen from here.

Figures from the Australian Bureau of Statistics on Thursday showed net employment dropped 6,600 in March from February, when it rose a revised 117,600. Market forecasts had been for a small gain of 10,000 after a blockbuster February.

Full-time employment rose 27,900 in March. The jobless rate climbed slightly to 3.8% from 3.7% the previous month, although that was under a forecast of 3.9%.

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