Reply #94: australia: Strong Australian dollar sparks shock plunge in job numbers, surprising economists

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http://www.couriermail.com.au/business/strong-australian-dollar-sparks-shock-plunge-in-job-numbers-surprising-economists/story-e6freqmx-1226054946631


THE nation's "patchwork economy" shed more than 22,000 jobs last month as the soaring Australian dollar heaped pressure on manufacturers and retailers.

Bucking economists' expectations for a 17,000 increase in the number of people working, the surprise decline in employment is the biggest in more than two years.

The news wiped more than two and a half cents off the Australian dollar and nearly 2 per cent from the benchmark ASX/200 as traders punted that the Reserve Bank of Australia would hold off on its next interest rate rise following the latest sign of weakness in the economy.

Australian Bureau of Statistics' monthly labour force report showed yesterday that total employment fell for the third time in five months in April. The number of full-time roles fell by 49,100, but this was partly offset by a 26,900 increase in part-time positions.




oh looky -- their surprised down under too!