Overview

• Australia's unemployment rate edged up to 4.1% in March, with 3,000 more people unemployed despite a gain of 32,000 jobs.
• Annual employment growth reached a 20-year high, reflecting the tight labor market and strong workforce participation at 66.8%.
• The employment-to-population ratio remained steady at 64.1%, signaling sustained labor market engagement.
• Total hours worked declined in March, impacted by weather disruptions including ex-Tropical Cyclone Alfred in New South Wales and Queensland.
• The Reserve Bank of Australia will weigh these labor market dynamics, alongside inflation and global tariff pressures, ahead of its May 20 interest rate decision.