Australia's jobless rate has been steady and with only the part-time positions getting a nudge down and Queensland floods setting an impact and distorting the data, reports from the Australian Bureau of Statistics indicated.

The statistics bureau said, the unemployment rate was pegged at 5 percent as the economy generated some 47,600 new full-time jobs but lost 57,700 part-time positions, resulting in a net loss of 10,100 jobs for the month.

According to a related report of the Sydney Morning Herald, analysts are expecting a net gain of 20,000 jobs in February.

The floods in Queensland had not been fully accounted for and adjustments will be made a month later.

According to the National Australia Bank, the employment report may not be as surprising, but examining it deeply would mean the Australian labour market is stronger than before and the economy is still generating jobs due to the investments in different industry sectors.

Nevertheless, the numbers would also prompt the monetary authorities of the Reserve Bank of Australia to be very cautious in the cash rates as this development can trigger a higher inflation.

Employment Data

The mining industry boom is still making progress in Western Australia as unemployment dropped to 4.2 percent from 4.6 percent in January.

In New South Wales, the jobless rate eased to 4.8 percent in February, while in Victoria it fell to 5 percent from 5.1 percent recorded in the same period in 2010.

In Queensland, the rate was steady at 5.6 percent, seasonally adjusted, while the number of employed dropped 22,100.

South Australia's unemployment rate rose to 5.8 percent from 5.4 percent. Meantime seasonal adjustments saw a decline in Tasmania's jobless rate to 5.6 percent from 6.4 percent.

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