Australia's Employers Hire More-Than-Expected Workers
Australian employers recorded a more-than-expected hiring changes, where the employers hired almost three times the estimated number of workers last month adding to the strength of full-time jobs, which boosted the local currency to gain for the fourth straight day.
Australia's economy released its Employment Change for September, where the employees inclined by 14,500, compared with a previous reading of -8.8K revised to -9.1K a month earlier, while analysts' expectations were 5.0K.
Unemployment rate in Australian inclined to 5.4% in September, compared with a previous reading of 5.1%, while analysts' expectations were 5.3%.
At the same time, Full Time Employment Change reading recorded an actual of 32.1K in September, compared with a previous reading of 0.6K revised to 0.8K
Moreover, today's data underscore the strength of the world's 12 th largest economy, which recorded an annual expansion by 4% during the first half of the year, driven by resource investment.
Governor Glenn Stevens of the Reserve Bank of Australia cut interest rates by a quarter percentage points last week to 3.25%, acknowledging that the nation's mining investment boom is likely to peak next year at a lower level than previously forecast.
Meanwhile, it's expected from the RBA and policymakers to show another rate cuts during the upcoming period in order to support the nation's economy amid the current negative indicators that might affect on the nation's growth outlook