Economics
Australian Dollar Jumps on Employment Surge
- Unemployment holds at 5% as more people enter the labor force
- Jobless rate plunges to 3.9% in biggest state New South Wales
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Australian employment surged in January, led by full-time roles, suggesting the Reserve Bank has more time to assess whether the economy needs an interest-rate cut.
Australia added 65,400 full-time positions, while shedding 26,300 part-time ones, data from the Bureau of Statistics showed in Sydney Thursday. Unemployment held at 5 percent as more people sought work.