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Australia jobless rate falls to 9-month low, may head off rate cut
Thursday, 23 January 2020 08:59 WIB | ECONOMY |Ekonomi Australia

Australian employment outpaced forecasts for a second month in December pushing the jobless rate to a nine-month low, a much-needed improvement that could forestall a near-term cut in interest rates.

The local dollar climbed 0.47% to $0.6874 as the market pared the chance of an easing from the Reserve Bank of Australia (RBA) at its next policy meeting on Feb. 4.

Thursday™s data showed 28,900 net new jobs were created in December, beating forecasts of 15,000 and on top of a surprisingly strong 38,400 gain in November.

The unemployment rate edged down a tick to 5.1%, the lowest reading since march last year and again under forecasts.

Source: Reuters

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