The Australian Bureau of Statistics reported earlier that the Australian economy lost 29,300 jobs in the month of December. This was worse than analysts’ forecast of a creation of 10,200 jobs. The unemployment rate held steady at 5.2% after it was revised down. Economists raised the alarm that there was no net addition of jobs in 2011 and makes it one of the worst years for jobs in the last two decades. Analysts say that the unemployment rate held because more discouraged job seekers gave up looking for work. Read more