The unemployment rate in Australia came in at a seasonally adjusted 5.8 percent in February, the Australian Bureau of Statistics said on Thursday.

That was well below forecasts for 6.3 percent and down sharply from 6.4 percent in January.

The Australian economy added 88,700 jobs last month – blowing away expectations for an increase of 30,000 following the increase of 29,100 in the previous month.

The participation rate came in at 66.1 percent – unchanged from the previous month but shy of expectations for 66.2 percent.

The material has been provided by InstaForex Company – www.instaforex.com

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