The Australian economy added more jobs than expected in March, pushing the unemployment rate lower and easing pressure on the central bank to reduce interest rates further.
Australia's economy added 37,700 jobs in March, above expectations for the addition of 15,000 jobs in a Reuters poll. That consisted of a 31,500 increase in full-time employment and a 6,100 increase in part-time employment.
The unemployment rate ticked down to 6.1 percent. That was more favorable than expectations of 6.3 percent but still marked the tenth month that unemployment held above 6 percent.
Meanwhile, February's figures were revised higher; the economy added 41,900 jobs last month, up from an initial reading of 15,600. The unemployment rate was revised to 6.2 percent from 6.3 percent.
The Australian dollar jumped to 0.7770 against the U.S. dollar immediately after the decision from $0.7712 just before the data were released. Australia's benchmark S&P ASX 200 was little changed following the data, up 0.8 percent.
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