Analysts widely tipped the seasonably adjusted unemployment rate for November to rise 0.1% to 5.9%, but it actually fell 0.1% to 5.7%.
Shares fell for the fifth consecutive trading day and the S&P-ASX 200 hit an intraday low of 4601 points, the index’s lowest point since November 27.
"The [Dow Jones] index is still holding support and so is the S&P-ASX 200," Patersons senior private client adviser Chris Blair told Dow Jones Newswires.
"There's no need to be negative while the 4600 and 10,200 levels hold."
In the end, the S&P-ASX 200 closed 0.7% or 31.2 points down at 4606.7 points, while the broader All Ordinaries finished 0.6% or 29.7 points lower at 4622.9.
Gold also remains under pressure, falling 2% to $US1121 per ounce on the Comex division of the New York Mercantile Exchange.
Newcomer Eldorado Gold Corporation gained 3% or A41c to $14.15, while Lihir Gold fell 2.7% or 9c to $3.19.
Meanwhile, Rio Tinto dropped 1.5% or $1.10 to $69.80, while BHP Billiton fell 1.4% or 59c to $39.96.
It may have been energy stocks that dragged the market down on lower oil prices, but mining stocks didn’t fare too much better, despite mixed commodities.
Aluminium rose 2.2% to $US2175.75 per tonne, while nickel gained 2.6% to $16,487/t.
Copper, lead and zinc all fell around 0.5% each, while tin improved 0.9% to $15,212/t.
Among miners, there was plenty of exploration news today, but little that excited the market.
Rum Jungle Uranium fell 18% or A1.9c to 8.6c after releasing disappointing drilling results from its Windgate uranium project in the Northern Territory.
Meanwhile, gold producer Intrepid Mines’ news of a new porphyry system at its Tujuh Bukit project in Indonesia boosted its shares 14% to 32c.
