Jobs full steam ahead as pressure builds on rates

Following the Reserve Bank decision to increase rates, jobs figures show that 70,600 full time positions were created in the last month a 16 year record, however part-time positions were negative with 57,700 positions lost in the month. Since the start of the year, 20,500 full time positions have been created and the economy has lost a net 14,000 part time positions. Economists warn the continued tight labour market will place pressure on wages and ultimately interest rates.