Employment Change Australia Solid, Unemployment Down

The increase in Employment Change Australia data was triggered by the acceptance of the full-time job category. Meanwhile, the unemployment rate fell to a decade low.

On Thursday (17/March), the Australian Bureau of Statistics released Employment Change data which increased by 77.4k in February. This figure increased rapidly from 28.3k growth in the previous month, while successfully exceeding economists' expectations for an increase of 37k jobs.

In further detail, ABS revealed that employment growth this time was supported by receipts from the full-time employment category of 121.9k, a sharp increase compared to the January period which decreased 17k. On the other hand, the part-time job category fell 44.5k, in contrast to the previous month's achievement which rose 34.4k.

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Regionally, the state of Tasmania recorded the largest employment growth at up to 2.4 percent. New South Wales followed with a 1.4 percent growth percentage, as did Victoria, Queensland, South Australia and Northern Australia which each increased 0.5 percent. Meanwhile, Western Australia did not experience significant growth from the previous month.

The employment-to-population ratio increased by 0.3 percent to 63.8 percent. This figure is 1.4 percent higher than when the pandemic first spread in Australia.

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Complementing the positive data above, Australia's unemployment rate (Jobless Rate) was reported to have fallen 0.2 percent to 4.0 percent. This figure is better than the forecast of 4.1 percent, and reached a record low in the last decade.

AUD/USD Trying to Maintain Bullish Bias

Broadly speaking, the release of Australian employment data this morning did not have a high impact on the movement of the Australian Dollar against the Greenback. The AUD/USD pair is currently in the range of 0.7294, strengthening 0.1 percent from the daily open price. Technically, the movement of the Australian dollar is more influenced by world commodity price sentiment.

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