Australia Adds 121,000 Jobs which Exceeds Expectations

The Australian economy added 121,000 jobs in August, data from the Australia Bureau of Statistics (ABS) showed on Thursday, much higher than expectations of 12,000 jobs in a Reuters poll.

The addition of 14,300 full-time jobs and 106,700 part-time jobs – the most in at least three decades – pushed the unemployment rate down to 6.1 percent, after hitting a 12-year high of 6.4 percent in July. Expectations were for a 6.3 percent reading.

Following the data the Australian dollar gained over half a cent against the U.S. dollar, rising as high as $0.9216 after touching a five-month low of $0.9113 in the previous session. Against the New Zealand dollar it rose to 1.1222 from 1.1150. Australia’s S&P/ASX 200 index was down 0.1 percent.

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