Australia’s Unemployment Unexpectedly Falls; Aussie Advances
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Australia’s unemployment rate unexpectedly fell in March, sending the Aussie to a 4 1/2 month high as traders added to bets on an interest-rate increase.
The jobless rate declined to 5.8 percent from a revised 6.1 percent, the statistics bureau said in Sydney today. That’s the biggest drop since August 2010 and defied economists’ estimates for unemployment of 6.1 percent. The number of people employed rose by 18,100 after climbing a revised 48,200 a month earlier.