Australian Jobless Rate Tops U.S. First Time Since 2007: Economy
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Australia’s jobless rate jumped to a 12-year high in July, surpassing the U.S. level for the first time since 2007 and sending the local currency tumbling.
The unemployment rate rose to 6.4 percent from 6 percent, the statistics bureau said in Sydney today, versus the median estimate for unemployment to hold steady in a Bloomberg News survey of economists. The number of people employed fell by 300.