Economy

Unemployment rate steady in February; Reject Shop managing director resigns; Shoply acquires WowBaby: Midday Roundup

Yolanda Redrup /

Australia’s unemployment rate has remained steady at 6% in February, according to the latest figures from the Australian Bureau of Statistics.

The number of people employed in February grew by 47,300 jobs to 11,530,800, with an increase in full-time positions driving the growth.

Full-time employment increased by 80,500 jobs, but was offset by a fall in part-time employment which was down 33,300 positions.

Overall the number of unemployed people grew by just under 10,000 to 742,200.

Reject Shop managing director resigns

The managing director of The Reject Shop, Chris Bryce, announced his resignation this morning, effective at the end of the financial year.

The company’s board is now beginning a search for his replacement.

“I have been with the business since listing and am extremely proud to have been a part of what has been achieved over the past eleven years. It is the right time for a change for me personally, with the chance to explore other opportunities. I wish the Company and our people a very successful future,” Bryce said in a statement.

Shoply acquires WowBaby

Australian online retailer Shoply has acquired WowBaby.com.au, an Australian baby product business.

This marks the fifth acquisition for Shoply over the past 10 months, as the company attempts to position itself as a leading online retailer.

“The purchase of WowBaby represents another step in our growth strategy,” Shoply chief executive Simon Crean said in a statement.

“WowBaby also provides the opportunity to further test our operating platform and its ability to integrate acquisitions, and enter new market segments quickly. WowBaby.com.au is mobile-ready allowing us to support the increasingly mobile shopper, in this case, busy parents with babies and young children.”

Shares up on open

Aussie shares have lifted this morning, despite predictions the market would open flat following a soft day on Wall Street.

The S&P/ASX200 benchmark was down 37.5 points to 5421.7 at 12:04pm AEDT. Overnight the Dow Jones closed 11.17 points down, 0.07% lower to 16,340.08.

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