australian job growth hits 13year high in february figures
Last Updated : GMT 07:47:47
Arab Today, arab today
Arab Today, arab today

71,500 new jobs created in ‘extraordinary’ shift

Australian job growth hits 13-year high in February figures

Arab Today, arab today

Arab Today, arab today Australian job growth hits 13-year high in February figures

Central bank officials will push to keep interest rates at record lows
Sydney – Arabstoday

Central bank officials will push to keep interest rates at record lows Sydney – Arabstoday Australian monthly jobs growth hit a near 13-year high in February, an "extraordinary" result that helped keep the unemployment rate steady and eased pressure on the central bank to cut rates. The Australian Bureau of Statistics said 71,500 jobs were created last month, smashing forecasts for a rise of 10,000 and the biggest jump since July 2000.
UBS economist George Tharenou said: "It is clearly a strong result and shows that employment growth is tracking much faster than some people had been expecting."
The Bureau said the rate of unemployment stood at 5.4 percent, unchanged from January due to more people re-entering the workforce, and better than predictions for a rise to 5.5 percent.
Thursday's figures come just nine days after the Reserve Bank of Australia kept interest rates at historic lows of 3.0 percent, saying previous cuts were beginning to take effect.
Macquarie Bank senior economist Brian Redican said the numbers were "extraordinary" and added: "With that kind of employment growth there is no rationale for cutting rates."
The Australian dollar jumped to US$1.0367 after the data was released from $1.0307.
However, shares in Sydney plunged 1.18 percent to close at 5,032.2 as dealers bet the central bank would not cut rates further at its next policy meeting.
"Such strong unemployment data reduces the chances of seeing the RBA pull the trigger on rates anytime soon," IG Markets analyst Stan Shamu said.
"This in turn weighs on some interest-rate-sensitive and exchange-rate-sensitive stocks."
The big rise included 17,800 full-time posts and 53,700 part-time positions, helping to offset an increase in the participation rate -- the proportion of people in work or looking for work -- to 65.3 percent from 65 percent.
Economists said it appeared that headline-grabbing job cuts at a number of high profile companies did not reflect the hiring at small-to-medium sized firms.
Prime Minister Julia Gillard said the figures highlighted the strength of the economy.
"That tells you about the resilience of the Australian economy and we should be proud of it as a nation," she told parliament.
HSBC Australia chief economist Paul Bloxham expects the unemployment rate to stay below 5.5 percent for the remainder of 2013, edging down in the second half of the year.
"This survey helps add further weight to our view that the soft patch in the economy is probably behind us," he said.
"The housing market is recovering, house prices are rising, consumer sentiment has bounced and equity markets are up."

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

australian job growth hits 13year high in february figures australian job growth hits 13year high in february figures

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

australian job growth hits 13year high in february figures australian job growth hits 13year high in february figures

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today The Big Apple bike boom

GMT 10:47 2017 Wednesday ,22 November

The Big Apple bike boom
Arab Today, arab today Sophian Yussef reveals suitable decoration

GMT 02:56 2017 Thursday ,23 November

Sophian Yussef reveals suitable decoration
Arab Today, arab today Syria opposition meets in Riyadh

GMT 06:23 2017 Thursday ,23 November

Syria opposition meets in Riyadh
Arab Today, arab today 'Advanced' cyber attack targets Saudi Arabia

GMT 10:18 2017 Wednesday ,22 November

'Advanced' cyber attack targets Saudi Arabia
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today May under Brexit pressure at EU reform summit

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Honda recalls 800,000 minivans

GMT 11:43 2017 Wednesday ,22 November

Honda recalls 800,000 minivans
Arab Today, arab today VW says will invest over 34bn euros

GMT 07:19 2017 Tuesday ,21 November

VW says will invest over 34bn euros
Arab Today, arab today Singer Jahda Wahba has unlimited ambitions

GMT 07:56 2017 Monday ,20 November

Singer Jahda Wahba has unlimited ambitions
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 09:23 2017 Saturday ,18 November

Fedra happy for “Between Two Worlds” success

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts

GMT 13:41 2017 Tuesday ,21 November

French choke up over proposal

GMT 00:44 2017 Monday ,20 November

Japanese regulators raid Airbnb

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday