In February, the labour market lost 15,400 jobs over the previous month in seasonally adjusted terms, which contrasted both the 46,200 jobs gained in January (previously reported: +46,300 jobs) and market expectations that 5,000 jobs would be created. The February reading reflected a strong drop in the number of part-time jobs (-15,400) while full-time jobs were virtually unchanged. Meanwhile, the number of total job seekers rose by 16,400 persons in February (January: -14,200). Accordingly, unemployment inched up from 5.1% in January to 5.2% in February, which was in line with market expectations.
Unemployment rate inches up in February
March 8, 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.