The Australian unemployment rate was reported at a seasonally adjusted 3.7% in February according to the Australian Bureau of Statistics. This figure significantly undercut projections of 4.0% and also marked a decrease from the previous month, which registered at 4.1%.The Australian economy experienced significant job growth in the same month, boasting an increase of 116,500 jobs. This well exceeded original predictions of 39,700 new jobs, following a modest increase of 500 jobs in the preceding month.The number of full-time jobs went up by 78,200, following an increase of 11,100 in the month prior. Nonetheless, the participation rate slightly dropped to 66.7%. This fell short of expectations, which had anticipated a steady figure at 66.8%.The material has been provided by InstaForex Company – www.instaforex.com
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