Australia's jobless rate inched up to 5.1% in May from a revised 5% in April, but that's...

|By:, SA News Editor

Australia's jobless rate inched up to 5.1% in May from a revised 5% in April, but that's actually good news as the rise stemmed from an increase in the labor force participation rate. Employers added 38,900 jobs for the month, capping the best Jan.-May period of hiring in five years. The Aussie dollar continues its rally (+0.2% to $0.9941), while stocks rose (ASX 200 +1.3%).