Chinese trade negotiators suddenly canceled a visit to meet U.S. farmers after they wrapped up trade talks in Washington this week.Marketsread more
President Trump also said he is "not looking for a partial deal" with Beijing, moving away from his suggestion last week that he would consider an "interim deal."Politicsread more
Progress on trade talks will determine how far market will move above new highs.Trader Talk with Bob Pisaniread more
For investors taking a breather from the chaos in August, buckle up as the market is about go crazy again, Goldman Sachs warned.Marketsread more
Palantir Technologies is targeting a valuation of at least $26 billion in a private fundraising round, the first for the Peter Thiel-backed data analytics startup in four...Wall Streetread more
Michael Pack, a conservative filmmaker linked to Steve Bannon, saw at least $1.6 million in donations from his nonprofit sent into the coffers of his independent production...Politicsread more
The New England Patriots released Antonio Brown just 11 days after signing the wide receiver. The NFL Super Bowl champions initially had kept him in the face of a rape claim,...Sportsread more
The Wall Street Journal's report came as a top Ukraine official said President Donald Trump "is looking" for Ukraine officials to investigate business dealings of Biden's son...Politicsread more
A tour bus carrying Chinese-speaking tourists crashed near a national park in southern Utah, killing at least four people and critically injuring up to 15 others, authorities...U.S. Newsread more
Gun maker Colt announced Thursday that it will halt its production of AR-15 rifles for civilian sales, but the news might not be as exciting for gun control advocates as it...Guns and Weaponsread more
As thousands of people across the world participate in the Global Climate Strike, several Democratic presidential candidates have shared how they will take aggressive action...Scienceread more
Australia's jobs growth surged past all expectations in January as firms took on more full-time staff while the jobless rate stayed at its lowest in seven years, upbeat data showed on Thursday, sending the local dollar higher.
A total 39,100 net new jobs were created in January, from a downwardly revised but still sturdy 16,900 in December and surpassing market forecasts for a 15,000 increase, according to the Australian Bureau of Statistics (ABS) report.
The in response jumped to a two-week top of $0.7208.
The barnstorming performance will be welcomed by policymakers who are counting on labour market strength for a long-awaited pick up in wage growth and inflation in the face of a downturn in the property market.
The overall trend in Australia's jobs market has been robust over the past couple of years with annual employment growth of 2.2 percent, faster than the 1.6 percent rise in population.
The unemployment rate stayed at 5.0 percent, the lowest since April 2012. The only factor preventing a further decline in the jobless rate in January was an rise in the participation rate to 65.7 percent. This means the jobless rate remained at its recent low, even with an increase in the number of people looking for work.
The strength in the labour market helped the underemployment rate decline to 8.1 percent, although it still remains high by historical standards.
The jobs data has become increasingly important recently as Australia's once-booming property market is in a sharp downturn raising fears about a potential economic slowdown. Many analysts expect home values to fall further this year.
Yet, leading indicators of labour demand continue to point to further employment growth in Australia in a positive sign for household spending. An index of vacancies released by the department of jobs and small business last month showed there were 185,547 skilled job vacancies in December, the highest in 6-1/2 years.
That should give the Reserve Bank of Australia's (RBA) confidence that the A$1.8 trillion ($1.3 trillion) economy is on the right track. The RBA has held the cash rate at a record low 1.50 percent for almost 2-1/2 years now.