Unemployment Rises to 6.2% as 2900 Jobs Lost

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Unemployment Rises to 6.2% as 2900 Jobs Lost

Australia’s economy lost jobs for the month of April after two strong months of employment, underscoring the continued fragility of the labor market.

The nation’s employment declined by 2,900, data showed on Thursday, missing Reuters’ forecast for a 5,000 rise. The figure was made up of a fall of 21,900 in full-time employment and a 19,000 rise in part-time employment.

However, March employment was revised up to show a gain of 48,200, and that followed a 38,000 rise in February.  Meanwhile, the jobless rate edged up to 6.2 percent in April from 6.1 percent in March.  Year to April, 177,600 net new jobs were created while the labor force expanded by 230,900.

CNBC

Stuart McPhee
Stuart McPhee
Australian private trader for nearly 20 years, author, trading coach, licensed adviser and regular speaker at major trading events all around the world. Graduate of RMC Duntroon and former Australian Army Officer.