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Australian Employment Unexpectedly Falls, Currency Weakens

Australian employers unexpectedly cut workers in April by the most since 2009 as hiring weakens in states less affected by the nation’s mining boom, sending the local currency tumbling and stocks lower.

The number of people employed declined by 22,100, after a revised 43,300 gain in March, the statistics bureau said in Sydney today. Economists in a Bloomberg News survey forecast a 17,000 increase in April, according to the median of 21 estimates. The jobless rate held at 4.9 percent.