Australia Loses 146,300 Jobs In August

(RTTNews) - The Australian economy parted ways with 146,300 jobs in August, the Australian Bureau of Statistics said on Thursday.

That was well off from forecasts for the loss of 90,000 jobs following the addition of 2,200 jobs in July.

68,000 full-time jobs were lost last month, while 78,200 part-time jobs were lost.

The unemployment rate somehow fell to a seasonally adjusted 4.5 percent versus forecasts for 4.9 percent and down from 4.6 percent in the previous month.

The participation rate slipped to 65.2 percent, missing forecasts for 65.7 percent and down from 66.0 percent a month earlier.