Australia Adds More Workers as Unemployment Hits 2 1/2-Year High
This article is for subscribers only.
Australian employers hired almost three times the number of workers economists forecast for September, pushing up the local currency, even as the unemployment rate jumped to a 2 1/2-year high.
The number of people employed rose by 14,500, the biggest increase since May, after a revised 9,100 drop the prior month, the statistics bureau said in Sydney today. The jobless rate climbed to 5.4 percent, the highest since April 2010, from 5.1 percent as more workers sought employment. That 0.3 percentage point rise was the biggest since May 2009.