Bloomberg - 2012-09-06 —Australia Employers Unexpectedly Cut Payrolls by 8,800 in August
Australian employers unexpectedly cut payrolls in August for the second month in the past three, as evidence mounts that China’s slowdown is discouraging hiring.
The number of people employed fell by 8,800, the statistics bureau said in Sydney today. That compares with the median estimate for a 5,000 increase in employment in a Bloomberg News survey of 23 economists. The jobless rate declined to 5.1 percent from 5.2 percent as the participation rate dropped to the lowest level in more than five years, a sign that some job seekers exited the labor force.Bloomberg - 2012-09-06 — Australian Unemployment Unexpectedly Falls, Lifting Currency
Australia’s jobless rate unexpectedly declined in August on signs employers in mining states are still hiring workers, boosting the local currency after a three-day slide.
The unemployment rate fell to 5.1 percent from 5.2 percent in July, the statistics bureau said in Sydney today. The median estimate in a Bloomberg News survey of 23 economists was for a rise to 5.3 percent. The participation rate slumped to the lowest level in more than five years, a sign job seekers exited the labor force. The number of people employed dropped by 8,800, compared with economists’ forecast for an increase of 5,000.