Australia employment rebounds in Feb, jobless rate drops to 3.5%
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
GET BT IN YOUR INBOX DAILY
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Trade, TikTok, Taiwan: Blinken faces tough talks in China
Australian inflation boosts case for higher-for-longer rates
The American small-business tyrant has a favourite political party
China’s prices are just too low for buyers to sweat about tariffs
Japan’s corporate service inflation perks up in March
New Zealand first-quarter imports fall amid sluggish economy