Unemployment rate lifted to 4.3% in February: ABS
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The news: The unemployment rate increased to 4.3% in February, higher than average forecasts of 4.1%, according to the latest data from the Australian Bureau of Statistics (ABS).
The numbers: The number of unemployed people grew by 35,000, contributing to the 0.2 percentage point increase to the unemployment rate in February.
Employed people grew by 49,000. Part-time employment rose by 79,000 people, while full-time employment fell by 30,000 people.
Hours worked fell 0.2% over the month, with more people working part-time hours instead of full-time hours.
The growth in both employment and unemployment lifted the participation rate by 0.2 percentage points, to 66.9% in February.
The trend unemployment rate fell marginally from a revised 4.3% in January to 4.2% in February.
The context: The ABS said it saw more people move into part-time employment during the month, particularly those aged 65 and over.
February also saw fewer people leave jobs to retire compared to a year earlier.
The source: ABS media release
