BREAKING NEWS

BREAKING NEWS

Surprise jump in Australian employment

Now Reading:

Surprise jump in Australian employment

Text size Aa Aa

Australian employment surged past all expectations and the jobless rate has dropped to 5.7 percent.

Over 40,000 jobs were created in September whereas analysts had forecast a fall of 10,000. Economists said the figures justify the Australian central bank’s interest rate rise this week and make it likely there are more rate hikes to come. In response the Australian dollar jumped to its best level in 14 months.