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Australian Employment Rose 4,600 in Feb; Estimate 15,000 Gain


Thursday, 21 March 2019 09:41 WIB

Australia


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Australia's central bank is under increasing pressure to resume interest-rate cuts after a 2-1/2 year hiatus; it has used the strength of the labor market -- strong hiring and low unemployment -- to resist those calls. If employment holds up, then the RBA will retain its room to maneuver. But if it weakens over several months -- the data's volatility suggests one reading would be insufficient -- then policy makers are likely to have little choice but to ease. The statistics bureau released the data in Sydney on Thursday.

Unemployment rate 4.9%; est. 5%. Full-time jobs fell 7,300. Part-time jobs rose 11,900. Participation rate 65.6%; est. 65.7%. AUD at 71.66 U.S. cents vs 71.35 cents pre-data.

Source : Bloomberg


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