Australia: Unemployment rate at over 13-year low in February
Seasonally-adjusted employment increased by 77,400 in February, following 28,300 jobs added in January. February’s result was driven by an increase in full-time employment more than offsetting a decline in part-time employment.
Meanwhile, the seasonally-adjusted unemployment rate fell to 4.0% in February from January’s 4.2% in January, marking the lowest reading since August 2008. Moreover, the participation rate increased to 66.4% in February from 66.2% in January. Additionally, the seasonally-adjusted underemployment rate inched down to 6.6% in February from 6.7% in January.