Australia Feb Employment change +64.6K (+48.5K expected) & Jobless rate 3.5% (3.6%)

Employment Change: +64.6K ... HUGE BEAT!!!

• +48.5expected K, prior -11.5K

Unemployment Rate: 3.5% ... ditto, beat

• expected 3.6%, prior 3.7%

Full-Time Employment Change: +74.9K ... this is getting better and better!

• prior was -43.3K

Part-Time Employment Change: -10.3K ... moving to full time a lot of this

• prior was +31.8K

Participation Rate: 66.6%

• expected 66.6%, prior was 66.5%

More:

• Underemployment -0.4% on the month to 5.8%, its lowest since August of 2008
• Underutilisation -0.5% on the month to 9.4%, its lowest in 40 years

OK, first things first, this doesn't lock in another Reserve Bank of Australia rate hike at the April (4th) meeting because of all the banking system turmoil, CS the latest niggle. But, sheesh, the CPI is way too high and jobs growth is going gangbusters.

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Background to this:

• Australian jobs report today: "One of the most closely watched ... in a long time"

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aud AUD The Australian dollar (AUD) is the official currency of Australia, which is also used in Christmas Island, Cocos (Keeling) Islands, Norfolk Island, as well as independent pacific states.Introduced in 1966, the AUD is currently the fifth most traded currency in the world, behind only the US dollar, euro, Japanese yen, and British pound.The currency is very important to forex markets and is routinely used as a carry trade against other majors.The Reserve Bank of Australia (RBA) is the central bank The Australian dollar (AUD) is the official currency of Australia, which is also used in Christmas Island, Cocos (Keeling) Islands, Norfolk Island, as well as independent pacific states.Introduced in 1966, the AUD is currently the fifth most traded currency in the world, behind only the US dollar, euro, Japanese yen, and British pound.The currency is very important to forex markets and is routinely used as a carry trade against other majors.The Reserve Bank of Australia (RBA) is the central bank Read this Term