Australia: Employment figures in surprise worsening

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The Australian Bureau of Statistics has published data showing that the rate of unemployment increased by 0.2% to 5.3% in July, which represents a rise of 24 600 in the number of unemployed.

Most analysts had predicted an unchanged rate of 5.1%, although some have also suggested that the rise could be a result of new population data pointing to there being more people available to work than had been thought.

Australia was the only major economy to escape the effects of the global recession.