Australia loses 24,400 Jobs according to nation’s Statistics Bureau
Australia’s labor market is weaker than previously reported, the nation’s statistics bureau said in a review released today, sending the currency lower as traders bet on an extended interest-rate pause.
The total number of Australians employed in September was 24,400 fewer than previously reported and the jobless rate was 6.2 percent, compared with the prior 6.1 percent, the Australian Bureau of Statistics said in a statement today.
The ABS said last month, when it ordered the review, that it was unable to explain a sudden bout of volatility in labor figures.
The Australian dollar fell as low as 86.54 U.S. cents after the report, before recovering to trade at 86.89 U.S. cents at 12:40 p.m.
Source: bloomberg-Australia Loses 24,400 Jobs according to nation’s Statistics Bureau
