Unemployment rate steady at 2.9%; participation rate hits record high
Unemployment rate remained at 2.9% in January (Dec: 2.9%) for the third straight month, marking the lowest level since November 2014 (2.6%)
- The number of unemployed rebounded (0.3% MoM; Dec: -2.0%) for the first time in three months after a sharp decline previously.
- In absolute terms, unemployment rose to 509.6k (Dec revised: 508.0k).
- Actively unemployed, defined as those available for work and actively seeking jobs, increased to 406.9k (Dec revised: 405.5k). Its share of total unemployed steady at 79.8% (Dec: 79.8%).
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