Nothing too much wrong with the labour force figures for March, with the economy adding another +53,000 jobs, taking employment to a record high of 13.88 million.
The unemployment rate held steady at 3.52 per cent.
Not a bad set of figures, overall, but people need to remember that the unemployment rate is a lagging indicator.
And with many builder and developer firms collapsing of late, and engineering and financial services layoffs beginning, the only way is up from here for unemployment.
Detailed analysis from James Foster here:
With over 142,500 international students arriving in February - and more to follow in March - this was the queue outside the Bank of China in Melbourne with a huge conga line of students waiting to open bank accounts.
That's your leading indicator: labour supply will be plentiful in due course.
- Also read:This week’s Australian Property Market Update – Latest Data, State by State November 28th, 2023
- Also read:How Many Billionaires Are There in Australia?
- Also read:The Pros and Cons of Property Investment
- Also read:Auction clearance results November 25th – Spring Auction Market Ends with Typically Higher Listings & Lower Clearance Rates
- Also read:Economics 101: 7 key principles you should know