Jobless rate increases to 5.3pc

ECONOMISTS are split on whether the latest jobless data will pressure the Reserve Bank into raising the cash rate in April.

The unemployment rate was a seasonally adjusted 5.3 per cent in February, compared with an downwardly revised 5.2 per cent in January, the Australian Bureau of Statistics said.

February 11, 2010: Unemployment rate in surprise fall

THE Australian economy continues to power along with another drop in the unemployment rate.

The seasonally adjusted jobless rate fell by 0.2 percentage points as 52,700 new jobs - mainly part-time - were created in January, the Australian Bureau of Statistics said today.

This is the largest rise in employment since December 2006.