Australian employment report for March due 15 April 2021 at 0130GMT
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Employment Change and the jobless rater are the twin headlines
-
Employment Change: K expected 35K, prior 88.7K
-
Unemployment Rate: 5.7% expected
%, prior 5.8% -
Full-Time Employment Change:
K prior was 89.1K -
Part-Time Employment Change:
K prior was -0.5K -
Participation Rate: %
expected 66.1%, prior was 66.1%
Some snippets on what analysts are expecting. Westpac:
- Leading indictors of employment, such as weekly payrolls, job vacancies and the various business surveys all suggest labour demand continued to strengthen through March and into April.
- As such we see upside risks to our +32k forecast.
- Rising participation is muting the improvement in unemployment.
Scotia:
- Australia will shoot for a sixth consecutive material job gain
- Australia has already recouped all of the jobs lost to the pandemic in an experience that has been similar to Canada’s experience
- These two open economies can of course be buffeted by global shocks, but they are generally repeating the greater-than-average resilience that marked their experiences during the GFC