Australia employment rebounds in Feb, jobless drops to 3.5%
2023.03.15 21:02
© Reuters. FILE PHOTO: People are silhouetted against the Sydney Opera House at sunset in Australia, November 2, 2016. REUTERS/Steven Saphore/File Photo
SYDNEY (Reuters) – Australia employment rebounded strongly in February while the jobless rate fell back to near 50-year lows, data showed on Thursday, though the upbeat result was overshadowed by worries about global recession amid a rout in bank shares.
Figures from the Australian Bureau of Statistics showed net employment rose 64,600 in February from January, when they fell a revised 10,900. Market forecasts had been for a rebound of 48,500.
The jobless rate dropped to 3.5%, from 3.7%, when analysts had looked for a dip to 3.6%. Hours worked jumped by 3.9% in another signal of resilient activity.
