Sky News Business Reporter Edward Boyd says the Australia sharemarket “basically tanked” as soon as the unemployment figures were released.
The unemployment rate has dropped to 3.9 per cent from 4.1 per cent in the month of November.
“Before the numbers dropped, it was looking pretty good; shares were up almost half a per cent,” Mr Boyd said.
“There was a lot of optimism out there and then you can see though the sharp fall at 11:30am.”
