Australia: Unemployment rate edges up in February
March 16, 2017
Seasonally-adjusted employment decreased by 6,400 jobs in February compared to the previous month, which contrasted the 13,500 new jobs created in January. February’s figure contrasted analysts’ expectations of 16,000 new jobs. The fall in employment reflects a decrease in full-time positions of 33,500 in February (January: +57,500), while the number of part-time positions rose by 27,100 in the same month, contrasting the 44,000 part-time positions lost in January.
The labor market participation rate was stable at January’s 64.6% in February and due to the unexpected loss of jobs the unemployment rate edged up to 5.9% (January: 5.7%).
Author: Christopher Mc Innes, Economist