Australian Employment Unexpectedly Falls
Jan 17, 2013, 06:01 IST
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Employment fell by 5,500 in December. Economists surveyed by Bloomberg were looking for a 4,000 gain.
The unemployment rate was revised up to 5.3 percent from a previous reading of 5.2 percent.
Australia, an economy largely driven by mining, has struggled as its trading partners like China have slowed down.
It's "a credit bubble built on a commodity market built on an even bigger Chinese credit bubble," wrote strategist Dylan Grice about Australia.
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