job hiringAustralia added 47,300 jobs in February, a major surprise that indicates the economy is finally generating jobs after a painful crisis period.

Jobs growth

Additional jobs were three times of what many industry observers had been expecting.

The increase follows two months of disappointing jobs growth. The unemployment rate was steady at 6% as more employees said they were searching for jobs.

“Hopefully people will take that as a positive sign,” said Michael Workman, a senior economist at Commonwealth Bank.

The country’s economy has been boosted by the central bank’s decision to keep interest rates low.

‘Normal levels’

The result should help soothe Australians’ growing worries about unemployment after recent announcements of job losses at a couple of high profile companies.

The country’s surprise surge in jobs comes as New Zealand’s central bank announced an interest rate increase.

“With inflationary pressures building, there is a need to return interest rates to more normal levels,” said the central bank in a statement.