Australian unemployment climbed to a two-year high at the opening of the year, highlighting the nation’s cooling labor market and sending the currency lower as traders brought forward bets on an …
Australian unemployment climbed to a two-year high at the opening of the year, highlighting the nation’s cooling labor market and sending the currency lower as traders brought forward bets on an interest-rate cut.The economy added just 500 roles in January, confounding expectations for a 25,000 gain and well shy of numbers needed to hold down the jobless rate, government data showed Thursday. Unemployment advanced to 4.1% from 3.9% while the participation rate was steady.
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