The Australian Bureau Statistics (ABE) will publish data on the evolution of employment in the country today (22.30 GMT -3). The relevance of the data supposes the current state of the economy, determining consumption levels and impacting on economic growth.
The data that is published for the middle of the month, estimates that they maintain still positive results. For the month of March, the unemployment rate is expected to fall to 5.7% compared to February.
In the last measurement, the projection estimated a smaller drop in unemployment than what actually occurred. However, it should be noted that the JobKeeper program has ended and new measures have not yet been announced in this regard. It remained open to new registrations for those who met the requirements requested until the end of the program on March 28. This program was intended to provide a livelihood to companies that require state support for wage payments.
The end of this support could trigger a readjustment in the employability rate of companies, affecting not only the Job Seeking aid program, but also employment levels.
Although it is too early to see this impact and the data to be published correspond to the month of March, there could be some variations in employment levels.
Regarding the change in employment, which represents the levels of people employed, the last month exceeded expectations, going from 29.5K to 88.7K. The current expected data is projected at a variation of 35.2K.
AUDUSD closed buy. It is located at 0.7725. Buy preference is maintained above 0.76, up to 0.764
Faced with better than expected results, it will positively impact the AUDUSD.