Australian unemployment unexpectedly falls

|By:, SA News Editor

Australia's jobless rate fell to 5.8% in March from 6.1% in February and came in below consensus of 6%.

The number of people in work climbed 18,100 after rising 48,200 and topped consensus of +5,000.

The number of full-time jobs fell 22,100 following an increase of 80,000, while that for part-time positions grew 40,200 vs -31,800.

"The economy’s outlook has improved and we're getting a lift in hiring," says Barclays economist Kieran Davies. "The possibility of an early turning in the labor market is one reason why the RBA may hike rates this year.

The S&P/ASX 200 is +0.3%, while the AUD-USD is +0.4% at $0.9428. (PR)