Jobs Gyration Muddies Rate Outlook for Australia’s RBA
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Australia’s gyrating jobs figures are making it harder for the central bank and investors to gauge the impact of record-low interest rates on the nation’s economy.
The number of people employed fell by 29,700 last month after rising 32,100 in August, the statistics bureau said in Sydney today. It yesterday announced a review of methodology designed to smooth seasonal factors that produced a record 121,000 increase in jobs in August and would’ve shown a 172,000 loss in September.