Australian News Today

Australian jobless rate rises to 4.1% in April, despite jobs gain

Australian jobless rate rises to 4.1% in April, despite jobs gain

SYDNEY, May 16 (Reuters) – Australian employment rose by
more than expected in April, while the jobless rate climbed as
the growth in workforce outpaced job creation, a sign the labour
market is loosening gradually.

Figures from the Australian Bureau of Statistics on Thursday
showed net employment rose 38,500 in April from March. Market
forecasts had been for a bounce of 23,700. Full-time employment
dipped by 6,100 in April.

The jobless rate rose to 4.1%, from an upwardly revised
3.9%, and above market forecasts of 3.9%. The participation rate
ticked up to 66.7%, while hours worked was flat in April.
(Reporting by Wayne Cole; Editing by Muralikumar Anantharaman)