Unemployment steady at 5.9 per cent

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The Bureau of Statistics estimated that 74,500 full-time jobs were created in March, while 13,600 part-time jobs were lost.

The Australian jobs market employed 60,900 more people in March, reversing the previous month's fall of 6,400 and beating Reuters forecast of 20,000 new workers, official data showed Thursday.

The Australian dollar strengthened close to 0.7 percent against the US dollar following the release of the data by the Australian Bureau of Statistics.

The Reserve Bank of Australia will in particular be watching the jobs figures for any further weakness in the labour market.

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"Given the dour commentary accompanying the April interest rate decision, policymakers could do with some cheering up". The number of unemployed persons looking for full-time work increased 2,900 to 528,600 and the number of unemployed persons only looking for part-time work increased 1,100 to 224,500.

But the data will not change current forecasts of no foreseeable change in the RBA's cash rate, he said.

This increase in participation is the reason why the unemployment rate remained stuck at 5.9 per cent, despite extremely strong jobs growth.

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