Shares rise on jobs data and Wall Street boost

THE stockmarket bounced back on Thursday after a positive lead from

Wall Street and a fall in the unemployment rate.

The benchmark ASX200 index closed 0.58 per cent higher at 7460.2 while the All Ordinaries Index gained 0.47 per cent to 7759.8.

The local bourse peaked before the release of jobs figures, which showed many locked-down Australians simply gave up and dropped out of the labour market last month. The jobless rate slid to 4.5 per cent in August, down from 4.6 per cent in July, while the participation rate fell 0.8 percentage points to 65.2 per cent. “The jobless rate was expected to rise to around the 5 per cent mark – instead, it’s fallen by 0.1 per cent,” OMG boss Ivan Tchourilov said.

The ASX 200’s best performer was Chalice Mining, up 6.4 per cent to $7.95, while online marketplace Redubble was the worst, sliding 6.9 per cent to $3.81.