- Australia’s unemployment rate remained stable at 5.1 percent in March, falling .5 percent below the March 2004 rate.
- The January-March jobless rate for Hong Kong remained at 6.1 percent from the previous period (December to February), according to preliminary data. The figure represented the country’s lowest level since the period of September to November 2001. “The near-term outlook will continue to hinge on the overall economic growth giving rise to additional jobs for the labor force, including in particular graduates entering the labor market during the summer months,” said a government spokesperson in a press release. “Total employment soared to an all-time high of 3,354,000 in the first quarter of 2005. The department posted a record high of 8,254 job placements in March.”
- Interest rates in India rose for the second time in six months, this time 25 basis points to 5 percent. India’s central bank cited high oil prices as a main reason for the increase, which Indian economists called, “a preemptive strike.”
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