Australian Employment Edges Higher in January on Part-Time Surge
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.

Key Details

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

Big Picture

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

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