Australian Hiring Stays Strong, Backing Hawkish RBA Stance

Australian unemployment stayed relatively low in February as job gains continued, reinforcing the Reserve Bank’s view that the economy remains resilient enough to withstand tighter monetary policy.

Employment advanced by 48,900, driven completely by part-time roles, data from the Australian Bureau of Statistics showed Thursday. The jobless rate climbed to 4.3%, higher than a forecast 4.1%, as more people sought work.