National
Massive jobs boost stuns economists, but wages are going nowhere – The New Daily
Unemployment fell to 5.8 per cent in February, but economists say it will need to fall much further than that before we see decent wages growth.
About 89,000 people found full-time work in February as Australia’s unemployment rate fell to 5.8 per cent, smashing market expectations.
Economists were left stunned on Thursday when the Australian Bureau of Statistics revealed 4000 more people had jobs in February than before the pandemic.
It marked the fastest recovery from a recession in Australian history, but economists said it’s too early to pop the champagne as too many Australians are without jobs and many more can’t get enough hours.
“[The…
