Unemployment rate in Australia falls back to 3.5% despite interest rate rises

Economy adds almost 64,000 jobs, a figure that will be closely examined by the RBA as it decides whether to pause further interest rate increases

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Australia’s economy added almost 65,000 jobs in February, more than economists expected, indicating hiring was holding up amid the record run of interest rate rises.

The jobless rate fell to 3.5%, seasonally adjusted, compared with January’s reported 3.7%, the Australian Bureau of Statistics said. Economists had predicted employers added a net 50,000 jobs for last month, leaving an unemployment rate at 3.6%.