Global Economic News

Australia Jobless Rate Falls To 5.6% In August

The unemployment record in Australia came in at a seasonally adjusted 5.6 percent in August, the Australian Bureau of Statistics said on Thursday.

That beat expectations for 5.7 percent, which would have been unchanged from the July reading.

The Australian economy lost 3,900 jobs last month - badly missing forecasts for an increase of 15,000 following the downwardly revised gain of 25,300 in the previous month (originally 26,200).

The participation rate came in at 64.7 percent, shy of expectations for 64.9 percent, which would have been unchanged.

by RTTNews Staff Writer

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