Original article by Patrick Commins, David Rogers
The Australian – Page: 8 : 21-Feb-20
Ben Jarman of JP Morgan says the latest jobs data will strengthen the case for another official interest rate cut. The Australian Bureau of Statistics data shows that the economy added 46,200 full-time jobs in January, although this was offset by the loss of 32,700 part-time positions. The unemployment rate increased to a higher-than-expected 5.3 per cent, from 5.1 per cent in December. The labour participation rate rose by 0.1 per cent to 66.1 per cent, and the under-utilisation rate rose to a 19-month high of 13.9 per cent.
AUSTRALIAN BUREAU OF STATISTICS, JP MORGAN AUSTRALIA LIMITED