Unemployment with '3'...sort of
A solid labour force release saw full time employment increasing by 20,500, and total employment increasing by 17,900, to record high of 13,389,000.
The result was enough to push the unemployment rate down to the lowest levels since the 1970s, dropping from 4.04 per cent to 3.95 per cent.
But since the figures are rounded to one decimal places, this will be reported as a flat result at 4 per cent (nice and easy for Albo to remember!).
The unemployment rate for women fell to 3.7 per cent, the lowest level since 1974.
The underemployment rate also fell to 6.3 per cent, and the underutilisation rate fell to 10.3 per cent - both new cycle lows and reflective of the tightest labour market since 2008 - so we should start to see some wages growth from here.
The working age population is already beginning to pick up, so we may not see much lower unemployment figures than this in this cycle.
Queensland has added nearly 100,000 to the state's total employed figures over the past year.
The weakest part of the release was monthly hours worked, which declined over the month, to be lower than a year ago.
The twin reasons for this were flooding and the Omicron coronavirus variant, leading to more absences from the workplace in March.
Overall, this was a pretty solid release, but may just be unspectacular enough to keep interest rates on hold until June, by which time we'll likely have a new government, and more information will have come to light on wage price growth and consumer price inflation.
