(menafn – ecpulse)
Employment change rose by seven double the expected during March, where mining sector supported was by today's reading, thus employment sees an improvement after falling during the last period.
Australia's economy reported today the unemployment rate for March where the reading came with 5.2% same as previous reading, while expectation was 5.3%
On the other side, the Employment changed in March to add 44,000 people in workforce compared with previous of -15.4K while expectations was 6.5K.
Moreover, despite the improvement in added jobs the unemployment rate recorded a slight decrease compared with expectations, where the nation's economy shall grow inline with the increase of demand especially during the recovery of the American economy.
From another side, the Reserve Bank of Australia is closely monitoring the current economy's environment, where it's expected to adjust its monetary policy during the upcoming period in order to maintain the current improvement in employment to support the nation's growth.
Employment changes and labor sector are major factors in nation's performance especially in production cycle, where its worth mentioning that Australian economy sees a period of instability especially with the declining of consumer confidence in April and the deficit of the trade balance in February, adding that monetary policy makers might decline the interest rate during the upcoming period.