Aussie stocks end 0.2% lower

Australian share market finished lower on Thursday, 06 November 2014, as slide in mining stocks due to drop in iron ore price to five-year low wiped out earlier gains inspired by slightly better than expected employment figures. The benchmark S&P/ASX 200 Index and the broader All Ordinaries Index each dropped by 0.2% to 5506.10 and 5479.20, respectively.

The Australian Bureau of Statistics (ABS) said today that Australia's seasonally adjusted unemployment rate remained at 6.2% in October 2014 (compared with a revised rate for September 2014). The seasonally adjusted labour force participation rate increased 0.1 percentage points to 64.6% in October 2014. The ABS reported the number of people employed increased by 24,100 to 11,592,200 in October 2014 (seasonally adjusted). The increase in employment was driven by increased full-time employment for both females (up 26,100) and males (up 7,300). This was partly offset by decreased part-time employment, down 9,400 to 3,533,700.

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