Official data showed the jobless rate slipped to 3.9% from 4.1% the prior month. — Bloomberg
SYDNEY: Australia’s unemployment rate unexpectedly fell in November as the nation’s golden streak of hiring gains extended, underscoring the resilience of the labour market to elevated interest rates and prompting traders to pare back bets of a February interest-rate cut.
The Australian dollar extended an earlier rise while the yield on policy-sensitive three-year notes jumped 11 basis points to 3.83%, after official data yesterday showed the jobless rate slipped to 3.9% from 4.1% the prior month.
