Australia employment surges in Nov, jobless rate hit 1-1/2 year high

SYDNEY - Australia employment far outpaced expectations for a second straight month in November as firms added to full-time staff, yet the jobless rate still rose to a 1-1/2 year high as more people went looking for work. Figures from the Australian Bureau of Statistics on Thursday showed net employment jumped 61,500 in November from October, when they rose a revised 42,700. Market forecasts had been for an increase of around 11,000. The jobless rate still rose to 3.9 percent, from an upwardly revised 3.8 percent, the highest reading since May last year. The participation rate climbed to a record high of 67.2 percent. The Australian dollar extended gains to be up 0.6 percent...Keep on reading: Australia employment surges in Nov, jobless rate hit 1-1/2 year high

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