Original article by Adam Creighton
The Australian – Page: 1 & 5 : 19-Feb-16

Official data shows that Australia’s unemployment rate rose from 5.8 per cent to six per cent in January 2016. However, the participation rate was steady at 65.2 per cent. Meanwhile, part-time employees now account for a record 31.2 per cent of the workforce. The jobless rate in New South Wales was 0.3 per cent higher at 5.5 per cent, while unemployment in Victoria increased by 0.3 per cent to 6.3 per cent. Tim Toohey of Goldman Sachs says the jobs data will strengthen the case for further interest rate cuts, and he expects two rate cuts in 2016.

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GOLDMAN SACHS AND PARTNERS AUSTRALIA PTY LTD, AUSTRALIAN BUREAU OF STATISTICS, RESERVE BANK OF AUSTRALIA, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF EMPLOYMENT, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, UNITED STATES. FEDERAL RESERVE BOARD