US EditionAustralia’s Employment Jumps in February, Jobless Rate Still Rises
Unemployment rose due to stronger labour force participation and a shift to part-time jobs amid inflation and higher interest rates, with 48,000 jobs added in February, ABS said.
- On March 19, the Australian Bureau of Statistics reported that Australia's unemployment rate rose to 4.3% in February despite net employment increasing by 48,900 to 14,748,700.
- Rising labour force participation showed the participation rate climbed 0.2 percentage points to 66.9% as fewer retirees and more older workers delayed leaving jobs.
- Detailed ABS figures reveal part-time employment rose by 79,400 to 4,631,800 while full-time employment fell by 30,500 to 10,117,000 and hours worked fell 0.2%.
- The Reserve Bank's recent move means the Reserve Bank of Australia lifted the cash rate to 4.1% on Tuesday and markets now imply around a 57% chance of a quarter-point rise to 4.35% at the May meeting.
- Amid higher petrol costs and Middle East risks, forecasts suggest unemployment may peak near 4.6% in early 2027, said Brendan Rynne of KPMG Australia.
15 Articles
15 Articles
Australia unemployment rises to 4.3% in February
WAM - The Australian Bureau of Statistics (ABS) reported that the seasonally adjusted unemployment rate rose to 4.3 percent in February.The ABS stated that the number of unemployed people increased by 35,000, contributing to a 0.2 percentage point rise in the unemployment rate during the month.The latest data also showed that employment increased by 49,000 people, with part-time employment rising by 79,000, while full-time employment declined by…
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Australia’s unemployment rate has risen to 4.3 percent, up from 4.1 percent the previous month, according to seasonally adjusted figures from the Australian Bureau of Statistics (ABS). The news comes amid Australians struggling with higher fuel prices linked to the Iran war, as well as higher interest rates. ABS head of labour statistics Sean Crick said 35,000 more people were without a job in February. “Fewer people who were waiting to start a …
Australia’s employment jumps in February, jobless rate still rises
By Stella Qiu SYDNEY, March 19 (Reuters) - Australian employment rose by more than expected in February, though the jobless rate ticked up to a three-month high as more people joined the labour force, a mixed report that failed to provide much clarity...
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