February jobless rate drops; job market “still very tight”

21 March 2024

 

Summary:  Employment up 116,500 in February, much more than expected; ANZ: rebound was expected following weak December, January; ACGB yields rise; rate-cut expectations soften; MSA: labour market still very tight, loosening only gradually; participation rate ticks up to 66.7%; jobless rate drops from 4.1% to 3.7%; more part-time jobs, more full-time jobs; aggregate work hours up 0.8%; underemployment rate ticks down to 6.6%. Australia’s period of falling unemployment came to...

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