Thursday, 15 February 2018 08:14 WIB |
ECONOMY |Ekonomi Australia
Australian employment edged higher in the first month of the year, led by part-time jobs, indicating the central bank is likely to keep interest rates on hold.
Jobs rose 16,000 from December; economists forecast 15,000 gain
Unemployment rate fell to 5.5% from revised 5.6%; estimate 5.5%
Full-time jobs dropped 49,800; part-time employment rose 65,900
Participation rate fell to 65.6%; economists predicted 65.6%
Aussie dollar fell to 79.15 U.S. cents at 11:34 a.m. in Sydney from 79.29 cents pre-data
The report sees an extension of an employment bonanza in 2017 in which the economy added 400,000 jobs, three-quarters of them full-time. Yet some slack remains in the labor market, and combined with businesses reluctant to increase costs, wage growth has remained weak and inflation tepid. That™s prompted the central bank to signal interest rates will stay at a record-low 1.5 percent until the jobless rate is closer to its 5 percent full-employment estimate.
Source : Bloomberg