The Australian Bureau of Statistics reported that 71,500 jobs were added in February, the largest monthly jump since July 2000.

The majority of positions added were part-time at 53,700, with 17,800 new full-time jobs reported.

The unemployment rate held steady at 5.4%, leading many traders to bet the interest rate reduction cycle may have come to an end, according to Bloomberg.

The participation rate increased slightly from 65% in January to 65.3% in February.

The Australian dollar gained more than half a cent on the news, trading at $US1.037 this afternoon.

The S&P/ASX 200 Index fell 1.2% to 5032.2 points today after all sectors experienced losses.

Miners were some of the heaviest hit, with basic materials the worst performer on the day, down 2.4% at the close.

AngloGold Ashanti shed 11.3% to $A4.30, while fellow gold miner Ramelius Resources dropped 7% to 33c, both on no news.

Majors BHP Billiton and Rio Tinto experienced losses, down 2.3% to $35.09 and 2.2%, or $1.40, to $60.70 respectively.

Sirius Resources and Intrepid Mines were some of the few to see gains.

Sirius added 2.7% to $4.59 after announcing yesterday it had poached two Sandfire Resources executives, while Intrepid rose 2% to 25.5c on no news.

Ord River Resources responded to a speeding ticket from the ASX after shares hit a high of 2c today, though the company said it was not aware of any information to explain the increased share price and volumes.

The company released its half-yearly report later in the day and the stock closed up 33.3% to 1.6c.

Junior explorer Hannans Reward shares more than doubled, up 140% to 3.6c, after the company released historic copper-gold drilling results for its Pahtohavare project in northern Sweden.