Australia’s March employment jumps 53,000 in show of strength

AUSTRALIA employment blew past expectations for a second month in March while the jobless rate held near 50-year lows, data showed on Thursday, a strong report pointing to a still drum-tight labour market.

Figures from the Australian Bureau of Statistics showed net employment rose 53,000 in March from February, when they rebounded by a steep 63,600.

Market forecasts had been for a rise of 20,000, following several months of seasonal volatility.

The jobless rate stayed at 3.5 per cent, when analysts had looked for a nudge up to 3.6 per cent. Hours worked dipped 0.2 per cent in the month, though that followed a hefty 3.8 per cent jump in February. REUTERS