Australia’s jobless rate falls to 5.8% in March

April 11, 201410:05 am335 views
Australia’s jobless rate falls to 5.8% in March
Australia's jobless rate falls to 5.8% in March

[SYDNEY] Australia’s unemployment rate unexpectedly fell in March, sending the Aussie to a 4 1/2 month high as traders added to bets on an interest rate increase.

The jobless rate declined to 5.8 per cent from a revised 6.1 per cent, the statistics bureau said in Sydney yesterday. That’s the biggest drop since August 2010 and defied economists’ estimates for unemployment of 6.1 per cent.

The number of people employed rose by 18,100 after climbing a revised 48,200 a month earlier.

The data and a stronger housing market indicate businesses are beginning to invest in an economy that policymakers predict will accelerate.

 

source: businesstimes.com.sg

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