Analysts claim the latest jobs data shows the Australian jobs market has seen the biggest overall rise in employment since the year 2000.
The Australian Bureau of Statistics (ABS) released data on Friday showing that overall employment has seen the biggest rise in more than a decade, despite the unemployment rate remaining unchanged.
According to the ABS data, Australia added 71,500 jobs to the market in February – a jump not seen since the year 2000. Full-time employment jumped by 17,800 and part-time employment was up by 53,700.
While the jump was in part accountable to an overall rise in the total workforce, which comprises those in work plus those looking for it, analysts said the data was a sign that economic conditions were improving.
“It’s spectacular employment growth,” Brian Redican, a senior economist at Macquarie told The Australian. “Most analysts expected only about 9,000 jobs to be added in February.”
Yet some some economists warned that the dramatic rise could be a one-off instead of a steady trend upwards.
