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AAP
AAP
Business
Derek Rose and Rachel Jackson

Aussie shares soar as jobless rise lifts rates cut hope

United States ASX Unemployment
Australian shares have gained after a rise in unemployment buoyed hopes for a rate cut. (Brendan Esposito/AAP PHOTOS)

The Australian share market has set another record after the unemployment rate rose to its highest level in nearly four years, increasing the odds of an interest rate cut.

The benchmark S&P/ASX200 index on Thursday climbed 77.2 points, or 0.9 per cent, to 8,639.0, while the broader All Ordinaries rose 74.4 points or, 0.84 per cent, to 8,890.8.

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