Australia jobs growth slows in Jan as Omicron hits hours

[SYDNEY] Australian employment rose modestly in January as a surge in coronavirus cases put a big dent in hours worked, while the jobless rate remained at the lowest in 13 years amid record-high vacancies.

Figures from the Australian Bureau of Statistics on Thursday showed employment rose 12,900 in January, which was just above market forecasts of a flat outcome and follows two months of exceptional gains.

The unemployment rate held at 4.2 per cent, matching the lowest reading since August 2008 when it bottomed out at 4.0 per cent. The Omicron wave caused a steep 8.8 per cent slide in hours worked as employees stayed home sick or were forced to isolate. REUTERS