Australia Job Market Gathers Momentum Slowly - ANZ

        0229 GMT [Dow Jones] The modest decline in Australia's unemployment rate in recent months from 6.0% to 5.8% is consistent with the economy improving towards the end of 2013 and into early 2014, said Justin Fabo, economist at ANZ. Going forward, ANZ expects labor market conditions to improve further but for the inroads to be modest, in part due to job shedding related to waning resources investment. The central bank appears to share this view, Mr. Fabo said, stating Tuesday "it will probably be some time yet before unemployment declines consistently." (james.glynn@wsj.com)
        (END) Dow Jones Newswires

        May 07, 2014 22:29 ET (02:29 GMT)