Economics
Australia Unemployment Falls to 6.6% as Recovery Strengthens
- Full-time jobs led the gains, advancing by 35,700 in December
- Australia’s under-employment rate fell to 8.5% in the month
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Australian unemployment fell in December as a big-spending government budget and a second round of central bank stimulus spurred the economy’s recovery and encouraged firms to keep hiring.
The jobless rate declined to 6.6% from 6.8% in November, beating economists’ median estimate of 6.7%, data from the statistics bureau showed Thursday in Sydney. Employment advanced by 50,000 in December, matching estimates, as did the participation rate at 66.2%.