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Australian Unemployment Climbs Despite Surge in Full-Time Jobs


Thursday, 20 February 2020 07:55 WIB

UnemploymentEkonomi Australia


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Australia unemployment unexpectedly rose in January despite a surge in full-time employment as more people sought work.

Employers added 13,500 jobs last month, compared with economists’ estimatesof a 10,000 gain, data from the Australian Bureau of Statistics showed Thursday. The jobless rate climbed to 5.3% compared with a forecast 5.2%, while participation increased to 66.1%.

The data extends a three-year run of hiring strength that has withstood volatility offshore and a slowdown at home. Yet the job market’s health has failed to push unemployment lower and wages higher as it coincided with a swelling labor force. This led the Reserve Bank of Australia to cut rates three times last year to buttress investment and drive faster growth and inflation.

Source : Bloomberg


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