Australia jobs surge in August, but unemployment still at 5.6%

Sydney

AUSTRALIA'S jobs blew past expectations to surge the most in two years in August, yet unemployment was static as more people looked for work, limiting upward pressure on wages, inflation and interest rates.

Thursday's data from the Australian Bureau of Statistics showed employment leapt 54,200, the biggest jump since October 2015 and far above the 15,000 increase forecast by economists. That was the 11th straight month of gains, the longest streak in 23 years.