The decent lift in jobs over March bettered market expectations which were centred on a small rise of 2.5k {CBA(f) +11k}.The outcome was particularly impressive given the big spike in jobs over February. A number of market commentatorswere expecting some ‘statistical payback’ resulting in a fall in employment over March. The positive jobs data indicatesthat conditions in the labour market are improving and provides further evidence that the transition from mining to nonminingled growth is occurring.
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