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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