Jobless rate in Oz at 30-year low

SYDNEY - Australia's jobless rate fell to a 30-year low in September as miners and energy producers expanded, hiring six times as many workers as expected.

Employment increased 31,500 after gaining a revised 23,100 in August. The jobless rate fell to 4.8 per cent, the Bureau of Statistics said. Employment has risen for 11 straight months.

Miners and energy producers expanding to meet surging Asian demand have driven the year-long employment spree, boosting consumer confidence and inflation.

The skilled worker shortage is fuelling wage rises, prompting central bank Governor Glenn Stevens to say he is more likely to raise interest rates than cut them.

- BLOOMBERG