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ASX slides; Telstra sinks 7pc; AMP soars on $544m return – The Australian Financial Review

The ASX is down as Telstra offsets big gains in AMP, Treasury Wine Estates and Premier Investment. Telstra suffers biggest fall since March after cutting return target. AMP shares have biggest gain in a year on $544 million capital returns. AGL punished as di…

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The July labour force data showed an increase in the jobless rate to 7.5 per cent from 7.4 per cent. The unemployment rate was the highest since 1998.
There were 114,700 new jobs created during the month. The participation rate rose to 64.7 per cent from 64.1 per cent.
Here is the reaction from leading economists.
Ben Jarman, JPMorgan chief economist
Recall the employment result in the household survey is derived from the sampled participation and unemployment rates.
JPMorgan economist B…

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