Australia’s unemployment significantly falls in February

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.