The Australian Bureau of Statistics reported in the early hours of Thursday that the country created 12,900 jobs during the month of Januarynotably improving the market consensus, which expected that jobs would neither be created nor destroyed.
This is the third month in a row that Australia has created jobs. In December it created 64,800, and in November 366,100.
Part-time jobs have grown by 30,000 after increasing 23,300 in December. The bad news is that full-time jobs have fallen by 17,000, compared to 41,500 created the previous month.
The Australian unemployment rate remains at 4.2% for the second consecutive month, as expected, its lowest level since August 2008.
The participation rate increased to 66.2% from the previous 66.1%, above the estimated 66.0%.
AUD/USD reaction
The Australian dollar reacted to the data with an initial decline against the USD of less than 20 pips, but has since gone back and forth. The AUD/USD it has reached a seven-day high at 0.7216 in the middle of the Asian session, later losing more than 65 pips to drop to a daily low of 0.7149. At the European open, the pair has regained ground, trading above 0.7192, losing 0.11% on the day.
Source: Fx Street
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