A soft answer to jobs ire

Unemployment figures are softer than last year but they're not weak. It'll take much more than this for the Reserve Bank to consider any rate cuts.

Employment rose a nice 10,400 in January, while unemployment was steady at a lowish 5.4 per cent. But hours worked eased a touch, reflecting the solid growth in part-time jobs versus a slight pullback in full-time employment. Jobs growth has been moderate in the last half year or so, but the softness is clearly less than either Treasury or the Reserve Bank has been anticipating.

Perhaps the best way to sum things up is that the unemployment rate, which hovered broadly in a 5 per cent to 5.25 per cent range over 2011 and the first half of 2012, is now hovering in a 5.25 per cent to 5.5 per cent range.


SMS Code Sent…

Hi {{ user.FirstName }}

Looks like you've already taken a free trial

Please enter your payment details

We have sent you a code via SMS to {{user.DayPhone}}

please enter this code below to activate your membership

If you didn't receive SMS code please

Looks you are already a member. Please enter your password to proceed

Please untick this box when using a public or shared device

Verify your mobile number to unlock a FREE trial

Please sign up for full access

Updating information

Please wait ...

  • Mastercard
  • Visa

Related Articles