Fed:Jobless rate rises to 4.4 per cent

AAP General News (Australia)
12-11-2008
Fed:Jobless rate rises to 4.4 per cent

CANBERRA, Dec 11 AAP - The jobless rate has risen to its highest level in a year, climbing
to 4.4 per cent as a result of the severe economic slowdown.

The seasonally adjusted unemployment rate for November compares with 4.3 per cent in
the previous month, data released by the Australian Bureau of Statistics on Thursday shows.

The workforce was also cut by a seasonally adjusted 15,600 in November, although full-time
jobs rose by 8,800.

Economists had expected a 15,000 drop in jobs and an unemployment rate of 4.5 per cent.

The government has forecast the jobless rate rising to 5.0 per cent by June next year.

The monthly labour force data comes after the world's second biggest miner Rio Tinto
said it would be slashing its worldwide workforce by 14,000, including 5,500 full-time
jobs.

It has yet to specify how many Australian jobs will go.

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KEYWORD: JOBS

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