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Australia's Unemployment Rate Hits 12-year High - Yahoo News

"Despite the unemployment rate printing a touch higher in rounded terms, November's report was overall slightly better than the market expected, and suggested labour market conditions improved modestly in November," ANZ economists Savita Singh and Riki Polygenis said. "From here -- and now that clicking here the ABS appears more comfortable with the veracity of the survey -- we expect the unemployment rate to this site level out." The latest figures came two days after the ABS said it would accept all recommendations from an independent review into how the labour force survey is collated, following questions about its accuracy. The review said the timing of supplementary surveys had contributed to the volatility in the monthly data. The Australian dollar jumped a quarter of a cent to 83.7 US cents after the data release before easing slightly. The participation rate -- which measures the proportion of adults in work or looking for work -- rose a seasonally adjusted (visit site) 64.7 percent from 64.6 percent. Total aggregate hours worked fell 4.4 million hours to 1,610.6 million.
More: http://news.yahoo.com/australias-unemployment-rate-12-high-014107367.html

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