In January, the labour market gained 46,300 jobs over the previous month in seasonally adjusted terms, contrasting the 35,600 jobs lost in December (previously reported: -29,300 jobs). The figure overshot market expectations that 10,000 jobs would be created. The January reading reflected increases both in the number of part-time jobs (+12,300) and full-time positions (+34,000). Meanwhile, the number of total job seekers dropped by 15,300 persons in January (December: -3,900). Accordingly, unemployment inched down from 5.2% in December to 5.1% in January, which contrasted market expectations that had the unemployment rate picking up to 5.3%.
Unemployment rate inches down in January
February 16, 2012
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Australia Economic News
October 12, 2016
The Westpac-Melbourne Institute Survey of Consumer Sentiment increased 1.1% in October as the index rose from September’s 101.4 to 102.4.
October 11, 2016
The business confidence index published by the National Australia Bank (NAB) was stable in September at August’s 6 points.
October 5, 2016
Nominal retail sales inched up 0.4% in August from the previous month in seasonally-adjusted terms, up from July’s flat reading.
October 4, 2016
At its 4 October monetary policy meeting, the Reserve Bank of Australia (RBA) kept its policy rate steady at an all-time low of 1.50% after cutting its rate by 25 basis points twice this year, once in May and once in August.
September 15, 2016
The labor market lost 3,900 net new jobs in August compared to the previous month in seasonally-adjusted terms.