AUSTRALIA

Jobless Rate Declines: Unemployment in January fell to its lowest level in 20 months, and employment rose for a fifth consecutive month, confirming that the nation’s economic recovery is gaining steam, analysts said. The January jobless rate fell 0.1% to 10.6%. Economists had forecast a rise in unemployment. Employment grew by 22,000 jobs in January. The decrease in unemployment was achieved even though more people were out looking for work. The participation rate, which measures the number of people in jobs and those looking for work, increased 0.1% to 63.1%.