Australia: Unemployment rate inches down from over-twelve-year high in February
March 12, 2015
In February, the labor market gained 15,600 jobs compared to the previous month in seasonally-adjusted terms, which contrasted the 14,600 jobs lost in January (previously reported: -12,200). The figure came in slightly above market expectations of a 15,000 gain. The increase was driven by a 10,300 increase in the number of new full-time positions, as well as a 5,300 rise in the number of new part-time positions.
Labor market participation ticked down from January’s 64.7% to 64.6% in February. As a result of the job gains, the unemployment rate inched down from January’s 6.4% to 6.3%.
Author: Cecilia Simkievich, Economist