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Australia Jobless Rate Steady At 5.2% In May

The unemployment rate in Australia came in at a seasonally adjusted 5.2 percent in May, the Australian Bureau of Statistics said on Thursday – unchanged from the April reading but missing forecasts for 5.1 percent.

The Australian economy added 42,300 jobs last month – blowing past expectations for an increase of 16,000 following the increase of 28,400 in the previous month.

The participation rate was 66.0 percent, surpassing forecasts for 65.8 percent and up from the upwardly 65.9 percent a month earlier (originally 65.8 percent).

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