• Unemployment rate remained 3.3%
• The number of unemployed persons declined 0.4% yoy to 508,700
• Employment increased 2.2% to 14,733,000
• Labor force rose sturdily at 2.1% to 15,241,000
• Labor force participation rate maintained at 68.2% for third consecutive month
• Sturdy labor market but higher youth unemployment rate

Employment grew steadily at 2.2% yoy for second consecutive month and reached 14.73m in March. Likewise, the labor force remained at 2.1% yoy for three consecutive months. In March, jobs added in the market posted at 11k, lower than 51k recorded in the last month. Nevertheless, the number of unemployed person decreased 0.4% yoy to 508,700 in March following a 1.2% drop in the preceding month. The labor force participation rate in March 2018 remained at 68.2%, same as the first two months of 2018. As a result, the unemployment rate for March was stabled at 3.3% yoy, similar as February’s figure.

Source: BIMB Securities Research - 14 May 2018