FLAU - Australian Employment Surges In February

2024-03-21 05:45:00 ET

Summary

• February's employment showed a large rise, driven by a hefty increase in full-time jobs and a sharp fall in the unemployment rate to 3.7%.
• The RBA is probably glad it didn't alter its policy stance any further than it did at this week's meeting.
• Inflation, rather than labour data, will be the main determinant of RBA policy.

By Robert Carnell

Big increase in full-time employment drives the headline increase

Australia's headline employment increase for February smashed through expectations, rising by 116.5 thousand from January. There were also some slight upward revisions to the January numbers, so these February figures are even better than they appear at first glance....

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