AUSTRALIA
From Times Staff and Wire Reports
Unemployment Rate Falls to 9.8%: The figures for May, released last week, hit 9.8%, the lowest level since August, 1991. The April rate was 10.1%. Employment rose a hefty 30,500 jobs, contrasted with a 5,800 increase in April. Analysts welcomed the data but warned that the central bank will have to raise interest rates if inflation is driven up by such strong employment growth.
Start your day right
Sign up for Essential California for news, features and recommendations from the L.A. Times and beyond in your inbox six days a week.
You may occasionally receive promotional content from the Los Angeles Times.
