Australia's jobless rate posted a shock decline to an eight-month low in November, while employment extended its strong run, evidence of a far more resilient labour market than many had expected. The surprising strength prompted markets to scale back bets for an easing from the Reserve Bank of Australia in February,

Australia’s unemployment rate unexpectedly fell in November as the nation’s streak of hiring gains extended, underscoring the resilience of the labor market to elevated interest rates and prompting traders to pare back bets of a February interest-rate cut.