Australia February Employment Growth & Unemployment Rate

Employment growth +116,500 vs +39,700k forecast and +15,200 in January (revised up from +500)

Unemployment rate to 3.7% vs 4.0% forecast and 4.1% in January

Biggest monthly gain in 10 years and significantly better than expected

ABS blamed shifting seasonal factors, including greater than expected number of people delaying job starts until February to enjoy summer holidays

Magnitude of expected interest rate cuts by the end of the year dipped to 0.37% vs 0.44% prior