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Financial News: Australia Unemployment Rate Falls To 4.9% In February

Australia Unemployment Rate Falls To 4.9% In February

03/20/2019 - 21:30:00 (RTTNews)

(RTTNews) - The jobless rate in Australia came in at a seasonally adjusted 4.9 percent in February, the Australian Bureau of Statistics said on Thursday - beneath expectations for 5.0 percent, which would have been unchanged from the January reading.

The Australian economy added 4,600 jobs in February to 12,763,400, shy of forecasts for the addition of 15,000 jobs following the gain of 38,300 jobs in the previous month.

Full-time employment decreased 7,300 to 8,742,700 persons and part-time employment increased 11,900 to 4,020,700 persons. Unemployment decreased 11,700 to 664,300 persons.

Monthly hours worked in all jobs increased 3.1 million hours to 1769.9 million hours.

The monthly trend underemployment rate decreased less than 0.1 pts to 8.1 percent. The monthly underutilization rate decreased less than 0.1 pts to 13.1 percent.

The monthly seasonally adjusted underemployment rate remained steady at 8.1 percent. The monthly underutilization rate decreased 0.1 pts to 13.0 percent.

The participation rate was 65.6 percent, below expectations for 65.7 - which would have been unchanged from a month prior.

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