Australia jobless rate jumps to eight-month highs

Australia jobless rate jumps to eight-month highs

16 May 2019 09:45 AM
 
Australia's unemployment rate rose to the highest in eight months while full-time jobs fell, official data showed on Thursday, cementing views its central bank may be forced to lower rates soon to stimulate the economy. The local dollar skidded 0.4 percent to $0.6891, the weakest since early January when a currency 'flash crash' briefly sent the Aussie to $0.6743.Thursday's figures showed 28,400 new jobs were created in April, surging past expectations for a rise of 14,000. But in an unwelcome sign, all of the increase was led by part-time work, with full-time declining 6,300

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