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Surprise rise in Australian jobs | Surprise rise in Australian jobs |
(about 1 hour later) | |
Australia's economy created more jobs than expected in October, with 24,500 more people finding employment. | Australia's economy created more jobs than expected in October, with 24,500 more people finding employment. |
It is the second monthly gain in a row and has led analysts to speculate that interest rates will be increased in December to 3.75% from 3.5%. | It is the second monthly gain in a row and has led analysts to speculate that interest rates will be increased in December to 3.75% from 3.5%. |
In October, Australia became the first G20 country to raise rates since the global recession began, and it raised rates again earlier this month. | In October, Australia became the first G20 country to raise rates since the global recession began, and it raised rates again earlier this month. |
The news sent the Australian dollar to a 15-month high. | The news sent the Australian dollar to a 15-month high. |
One Australian dollar was worth 93.33 US cents. | |
The unemployment rate saw a slight increase to 5.8%, but overall it has remained fairly steady since March. | The unemployment rate saw a slight increase to 5.8%, but overall it has remained fairly steady since March. |
"These are very strong numbers," said Felicity Emmett, senior economist at RBS. | "These are very strong numbers," said Felicity Emmett, senior economist at RBS. |
"Employment is up over 60,000 in just two months and the jobless rate might peak below 6%... that's amazing," she said. | "Employment is up over 60,000 in just two months and the jobless rate might peak below 6%... that's amazing," she said. |
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