SA records biggest fall in unemployment
Submitted 11/02/2010
AAP
South Australia experienced the biggest drop in unemployment in January with the jobless rate tumbling to 4.4 per cent from 5.2 per cent the previous month. Nationally the rate fell from 5.5 per cent in December to 5.3 per cent. According to the Australian Bureau of Statistics (ABS) this means a larger than expected 52,700 jobs were created in January. Economists' national median forecast was for total employment to have risen by 15,000 in January and the unemployment rate to rise to 5.6 per cent. The Reserve Bank of Australia (RBA) left the official cash rate unchanged at 3.75 per cent last week, when most economists had anticipated a further rise. But the central bank did warn that further rate rises were likely in the coming months and the surprise fall in unemployment makes it more likely.


