Australian unemployment rate fall

Australian unemployment has fallen to an eight- month low, boosting confidence in the economy. The rate of unemployment fell to 5.5 % in December from 5.6 % in November, the Australian Bureau of Statistics said. The figures came as a surprise to many economists, who had expected a big rise. The fall was driven by a jump in the number of people in part-time work. During the month, 27 , 900 part-time jobs and 7 ,300 full-time jobs were found. "Today's figures provide further evidence of how Australia has outperformed virtually every other advanced economy during the global recession," said Deputy Prime Minister Julia Gillard. Last year, the Australian government warned that the unemployment rate could go as high as 8.5 %. Australia's mining sector is helping to create jobs, with increasing demand from China for iron ore fuelling growth.