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Australia’s labour market is undoubtedly resistant to negative factors and demonstrated improvement in February. Unemployment level fell in February and levelled previous unsatisfactory data. This improvement gives a signal that Australia’s economy is quite stable, which lowers expectations that the RBA will raise interest rate.
According to released data, seasonally adjusted unemployment fell in January by 0.2% to 5.8%. Economists expected it not to change.
However, growth of active jobs in February was 300 against expected 13,500. Full-time jobs rose by 15,900, while part-time jobs fell by 15,600.
Share of working-age people fell by 0.2% to 64.9%. Economists expected growth by 0.1% against January.