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Abstract:SYDNEY (Reuters) – Australia employment rebounded strongly in February while the jobless rate fell back to near 50-year lows, data showed on Thursday, though the upbeat result was overshadowed by worries about global recession amid a rout in bank shares.
SYDNEY (Reuters) – Australia employment rebounded strongly in February while the jobless rate fell back to near 50-year lows, data showed on Thursday, though the upbeat result was overshadowed by worries about global recession amid a rout in bank shares.
Figures from the Australian Bureau of Statistics showed net employment rose 64,600 in February from January, when they fell a revised 10,900. Market forecasts had been for a rebound of 48,500.
The jobless rate dropped to 3.5%, from 3.7%, when analysts had looked for a dip to 3.6%. Hours worked jumped by 3.9% in another signal of resilient activity.
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