In­ter­na­tional Busi­ness/sports

The Pak Banker - - Front Page -

to­day showed help-wanted no­tices fell for a seventh straight month in Oc­to­ber, sig­nal­ing the na­tion's un­em­ploy­ment rate may rise fur­ther.

Jobs ad­ver­tised in news­pa­pers and on the In­ter­net dropped 4.6 per­cent last month af­ter a re­vised 3.9 per­cent fall in Septem­ber, ac­cord­ing to an Aus­tralia & New Zealand Bank­ing Group Ltd. (ANZ) re­port re­leased in Mel­bourne to­day. Economists pre­dicted the job­less rate will rise to 5.5 per­cent in Oc­to­ber ahead of a Nov. 8 gov­ern­ment re­lease.

A sep­a­rate pri­vate re­port to­day showed Aus­tralia's ser­vices in­dus­try con­tracted in Oc­to­ber for a ninth straight month as the sus­tained strength of the na­tion's cur­rency and cau­tious con­sumers dis­cour­aged spend­ing.

Aus­tralian house­holds are build­ing a fi­nan­cial cush­ion by re­pay­ing mort­gages faster and sav­ing more, the RBA said in its Sept. 25 fi­nan­cial sta­bil­ity re­view. "Most house­holds ap­pear well placed to meet their debt obli­ga­tions," the cen­tral bank said in the semi­an­nual re­port.

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