Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
Australia’s unemployment rate fell 0.4 basis points to 3.7% in February, missing the market’s 4.0% expectation, while employment grew by 116,000, higher than the 40,000 forecasted, data from the Australian Bureau of Statistics showed Thursday.
The Reserve Bank of Australia had expected unemployment to reach 4.2% by Q2 and peak at 4.4% by mid-2025. Governor Michele Bullock noted following the RBA Board’s decision to hold the cash rate at 4.35% this week that the non-accelerating inflation rate of unemployment is likely between 4-4.5%. (See MNI RBA WATCH: Bullock Stresses Data, Switches To Neutral Tone)
The ABS noted in its release unemployment had fallen back to levels seen six months prior. “The large increase in employment in February followed larger-than-usual numbers of people in December and January who had a job that they were waiting to start or to return to,” the ABS said. “This translated into a larger-than-usual flow of people into employment in February and even more so than February last year.”
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.