Australian unemployment declined in October and the economy added more jobs than anticipated, suggesting the labor market remains tight and vindicating the Reserve Bank’s decision to leave interest rates unchanged. Stocks and bonds slumped.
The jobless rate fell to 4.3% from 4.5% in September and was better than the predicted 4.4%, data from the Australian Bureau of Statistics showed Thursday. Employment advanced by 42,200 — led entirely by full-time roles — more than double the expected 20,000 gain.
The Australian dollar and policy-sensitive three-year government bond yields jumped after the release, while stocks slid the most since September as traders ...
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