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Australia employment rebounds in Feb, jobless rate drops to 3.5%

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Published Thu, Mar 16, 2023 · 09:18 AM
    • Australia's he jobless rate dropped to 3.5 per cent, from 3.7 per cent, in February.
    • Australia's he jobless rate dropped to 3.5 per cent, from 3.7 per cent, in February. PHOTO: REUTERS

    AUSTRALIA employment rebounded strongly in February while the jobless rate fell back to near 50-year lows, data showed on Thursday, though the upbeat result was overshadowed by worries about global recession amid a rout in bank shares.

    Figures from the Australian Bureau of Statistics showed net employment rose 64,600 in February from January, when they fell a revised 10,900. Market forecasts had been for a rebound of 48,500.

    The jobless rate dropped to 3.5 per cent, from 3.7 per cent, when analysts had looked for a dip to 3.6 per cent. Hours worked jumped by 3.9 per cent in another signal of resilient activity. REUTERS

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