AUD/USD Surges Above 0.73 after Jobs Data Surprises

The unemployment rate fell to 5.8 per cent in November after the jobs market added another 71,000 positions to October’s extraordinary gain of almost 60,000.

The Australian Bureau of Statistics said on Thursday there was an increase of 41,600 full-time jobs in the month, and almost 30,000 part-time positions. This pushed the jobless rate down to 5.8 per cent from 5.9 per cent last time.

The participation rate, meanwhile, climbed from 65 per cent to 65.3 per cent, according to the ABS. The result was well ahead of expectations, and the Australian dollar surged more than 1 per cent, to US73.2¢.