Australia’s Unemployment Rises to an 11-year High

Australia’s jobless rate climbed to 6.1 percent in March, the highest in almost 11 years, economists forecast data to show on April 10. Reserve Bank of Australia Governor Glenn Stevens has warned unemployment will probably rise a bit further. In a statement on April 3, Boeing Co., the world’s largest planemaker, announced it will cut about 300 jobs at its Australian unit. A day earlier, BP Plc and Philip Morris International Inc. announced more than 500 in combined job cuts and plant closures.

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Full article on Businessweek

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