Australia Adds 71,500 Jobs the Biggest Increase in 13 years

Australia added 71,500 jobs in February, a huge jump and the biggest rise in total employment in more than a decade.

Full-time employment jumped by 17,800 and part-time employment was up by 53,700, said the Bureau of Statistics.

There was also a rise in the total workforce, which comprises those in work plus those looking for it. The unemployment rate remained at 5.4%.

Analysts said the data was a sign that economic conditions were improving.

“It’s spectacular employment growth,” said Brian Redican, a senior economist at Macquarie. Most analysts expected only about 9,000 jobs to be added in February.

“With that kind of employment growth, obviously policymakers would be feeling pretty comfortable with the current policy settings,” added Mr Redican.

via BBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza