Unemployment jumps to 5.9pc with 6,400 jobs lost: ABS
ABC.net - 3/15/2017 - Michael Janda - Unemployment climbed from 5.7 to 5.9 per cent in February as an estimated 6,400 jobs were lost over the month. Key points:
ABS shows 6,400 jobs lost in February and a 1.2pc fall in hours worked
Underemployment rises back to record high of 8.7pc
Youth unemployment rises back to 13.3pc
The news was not all bad, however, with full-time work rising by an estimated 27,100 jobs, while it was a 33,500-strong fall in part-time workers that drove the decline. However, economists said the bounce in full-time jobs looks more like a statistical blip than a new trend. "The rebound in full-time jobs in February followed an extremely weak January and doesn't make up for the losses in January," said RBC's Su-Lin Ong. "If you look at the overall trend in full-time employment it is very weak and it's contracted over the last twelve months. Read more @ http://www.abc.net.au/news/2017-03-16/a ... ry/8359312
ABS shows 6,400 jobs lost in February and a 1.2pc fall in hours worked
Underemployment rises back to record high of 8.7pc
Youth unemployment rises back to 13.3pc
The news was not all bad, however, with full-time work rising by an estimated 27,100 jobs, while it was a 33,500-strong fall in part-time workers that drove the decline. However, economists said the bounce in full-time jobs looks more like a statistical blip than a new trend. "The rebound in full-time jobs in February followed an extremely weak January and doesn't make up for the losses in January," said RBC's Su-Lin Ong. "If you look at the overall trend in full-time employment it is very weak and it's contracted over the last twelve months. Read more @ http://www.abc.net.au/news/2017-03-16/a ... ry/8359312
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