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Australia Jobless Rate Plummets To 6.8% In August

The unemployment rate in Australia came in at a seasonally adjusted 6.8 percent in August, the Australian Bureau of Statistics said on Thursday.

That blew away expectations for 7.7 percent and was down from 7.5 percent in July.

The Australian economy added 111,000 jobs last month – again shattering expectations that called for a loss of 50,000 jobs following the addition of 114,700 jobs in the previous month.

The participation rate came in at 64.8 percent, beating forecasts for 64.7 percent – which would have been unchanged.

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