By: Eamonn Sheridan

+71,500 (vs. +10,000 expected) Biggest jump in employment in 12 years Unemployment rate 5.4% (vs. 5.5% expected and 5.4% prior) Full time employment +17.8k (prior -9.5k, revised higher from -9.8k) Part-time employment +53.7k (prior 22.5k, revised higher from +20.2k) Participation rate 65.3% (vs. expected 65.0%, prior 65.0%) Victoria employment +37,900 jobs New South Wales +22,000 Little change in South Australia and Western Australia Queensland -3900 Tasmania +4700 The super-strong result has forecasting economists bamboozled. There is an expectation of a jobs fall next month to balance today's numbers. Strong speculation now that the rate cut cycle is over Interesting comment from CommSec economist Craig James: “It is just that a small number of listed companies reporting job cuts dominate the headlines rather than the raft of small and medium-sized firms that are getting on with business and hiring new workers.”  

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