Australian employment unexpectedly declined in October, rekindling the prospect for additional interest-rate reductions and sending the local currency lower.
Jobs fell 19,000 from September, compared with economists’forecast of a 15,000 gain; the unemployment rate increased to 5.3% versus an estimated 5.2%.
Full-time positions declined by 10,300; part-time roles fell 8,700. Participation rate dropped to 66%; est. 66.1%
The Aussie dollar slipped to 68.11 U.S. cents at 11:33 a.m. in Sydney from around 68.38 pre-data.