Australia's unemployment rate in surprise fall

[ccharles000]

Australia's unemployment rate fell unexpectedly in November, as the country's economic recovery continued.

The jobless rate dropped to 5.7% last month, from 5.8% in October, as 30,800 new full-time jobs were created, said the Australian Bureau of Statistics.

The figure surprised analysts, who had been expecting the unemployment rate to increase in November to 5.9%.

The latest figures raise the prospect that Australia will increase interest rates again.

Earlier this month, the Reserve Bank of Australia increased interest rates to 3.75% from 3.5% - the third month in succession that it had increased the price of borrowing.

Australia was also the first major economy to raise interest rates since the outbreak of the global financial crisis.

http://news.bbc.co.uk/2/hi/business/8405178.stm

[fasttense]

1. I remember the days when 5.7% unemployment in the US was OK. n/t