I just reviewed Australia's employment data for March, and there's something interesting. The unemployment rate remained at 4.3%, unchanged from the previous month. What stands out is that all job creation came from full-time positions, adding 17,900 new jobs according to the Australian Bureau of Statistics.

This confirms what the Reserve Bank of Australia has been saying: the labor market remains quite tight, despite inflationary pressures that have been increasing due to geopolitical issues. Considering that the bank already raised interest rates last month and continues to see inflationary pressures across the economy, these stable unemployment rate figures will likely be key for their upcoming decisions.

The curious thing is that despite all the global volatility and rising fuel prices, employment remains resilient. The unemployment rate didn't move, and that signals that the Australian labor market still has some strength.