Australian March labour force survey is due at 0130GMT
I posted earlier:
- Employment Change: K expected -30K, prior +26.7K
- Unemployment Rate: % expected 5.4%, prior 5.1%
- Full Time Employment Change: K prior was +6.7K
- Part Time Employment Change: K prior was +20K
- Participation Rate: % expected 65.9%, prior was 66.0%
Snippet via Westpac on what to expect (bolding mine):
- survey was conducted in the first two weeks of the month (prior to the introduction of lockdowns and other restrictions), so the brunt of the virus's impact may not be felt until April.
- Westpac expects an employment change of -20k
- unemployment rate to 5.3%
Via ANZ:
- We could see the start of job losses due to pandemic shutdowns in March, but they would likely be small scale compared with what's to come in Q2.
- We expect the unemployment rate to rise to 5.3%
Via ASB:
- Australia's March labour survey was completed over two weeks from 8th-22nd March.
- We are expecting 30k job losses for March. We have pencilled in an unchanged participation rate and the unemployment rate rising to 5.4%. Given the survey was before the shutdown measures, the March labour force numbers are not expected to fully capture the impacts from COVID-19.
- The underemployment rate, average hours worked and the participation rate will be watched closely for the early effects of coronavirus.
