In November, Australia's unemployment rate unexpectedly fell, allowing employment to continue to grow, highlighting the resilience of the labor market to rising interest rates, and prompting traders to reduce bets on a rate cut in February. The Australian Bureau of Statistics released data on Thursday showing that the unemployment rate dropped from 4.1% in October to 3.9%, far below the economist's expectation of 4.2%. Employment increased by 35,600 people, fully driven by full-time jobs, with an expected increase of 25,000 people. The Australian Dollar rose against the US Dollar to 0.6411, and the yield on the three-year Australian government bonds, which are sensitive to policy, rose by 5 basis points. The Australian stock market gave back all of its gains.