Asian Economic News

Australia Unemployment Rate Rises To 5.8%

The unemployment rate in Australia came in at a seasonally adjusted 5.8 percent in August, the Australian Bureau of Statistics said on Thursday.

That was in line with forecasts and up from 5.7 percent in July.

The Australian economy lost 10,800 jobs in August - missing by a mile forecasts that had suggested an increase of 10,000 jobs. That follows the loss of 10,200 jobs in the previous month.

The participation rate was 65.0 percent versus forecasts for 65.2 percent and down from 65.1 percent a month earlier.

by RTTNews Staff Writer

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