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Australian jobless rate unexpectedly falls in November.

Sydney, December 10, SPA -- Australia"s jobless rate unexpectedly fell in November as full-time employment surged, raising the prospect of more interest rate hikes as the country"s economic recovery gains momentum, AP reported. The jobless rate fell to 5.7 percent from 5.8 percent in October with 30,800 new full-time jobs created during the month, the Australian Bureau of Statistics said Thursday. Part-time employment increased by 300. Economists had expected the jobless rate to rise to 5.9 percent. The government"s official forecast is for unemployment to peak at 6.75 percent next year.

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Publication:Saudi Press Agency (SPA)
Date:Dec 10, 2009
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