Australia Jobless Rate At 13-Month High of 5.9% In February


Australia's seasonally adjusted unemployment rate unexpectedly rose to 5.9 percent in February of 2017 from 5.7 percent in January while markets expected 5.7 percent. It was the highest jobless rate since January 2016, as the economy lost 6,400 jobs while the number of unemployed increased by 26,000.

In February, the seasonally adjusted labour force participation rate came in at 64.6 percent, the same as in the prior month and in line with consensus.

Employment decreased 6,400 to 11,998,800 and missing markets estimates of 16,000 gain: full-time employment increased 27,100 to 8,158,900 while part-time employment decreased 33,500 to 3,840,000.

Unemployment increased 26,000 to 748,100. The number of unemployed persons looking for full-time work increased 10,800 to 523,800 and the number of unemployed persons only looking for part-time work increased 15,100 to 224,300.

Seasonally adjusted aggregate monthly hours worked in all jobs decreased 20.5 million hours to 1,661.9 million hours.

Australia Jobless Rate At 13-Month High of 5.9% In February


ABS l Rida Husna | rida@tradingeconomics.com
3/16/2017 1:11:29 AM