Australia’s unemployment rate unexpectedly drops from 4.1% to 3.7% in February despite slowing economy

Latest ABS figures show the labour market added 116,000 jobs defying signs of weakness since September

Australia’s jobless rate dived to 3.7% in February as employers shrugged off signs of an economic slowdown to boost staff numbers by triple the level expected.

The unemployment rate last month fell from 4.1% in January, the Australian Bureau of Statistics revealed on Thursday. Economists had expected the jobless rate to come in at 4.0%.