Australia: Labour data undershoot – Nomura

Sandeep Kanihama FXStreet Contributor

Australia’s employment rose by a seasonally adjusted 4,900 persons in March, weaker than the consensus and Nomura estimate for a 20,000 gain, notes Andrew Ticehurst, Research Analyst at Nomura.

Key Quotes

“In addition, the February result was revised down to -6,300 from 17,500. The number of people recorded as unemployed fell by 2,400, keeping the unemployment rate at 5.5% (5.53% from 5.55%), while the participation rate fell by one-tenth, to 65.5%. As a result of weaker-than-expected job gains over February and March, hours worked rose by a relatively modest 0.3% q-o-q in Q1. By state, results were very mixed, with strong job gains recorded in Victoria but modest losses recorded in New South Wales, Queensland and South Australia.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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