Australia’s Employment unexpectedly fell -4.3K in April, Unemployment rate rose to 3.7K defying expectation

Australia’s job market unexpectedly dropped in April, according to figures released on Thursday, as jobless rose amid some softening in economic activity.

According to the Australian Bureau of Statistics the overall number of employed individuals in the country declined by 4,300 in April to a seasonally adjusted 13.9 million.

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The declining job reading coincides with data from statistics issued on Wednesday showing a slight slowdown in salary growth in Australia during the first quarter of 2023.

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Nonetheless, the RBA is expected to look for more signals of labour market weakening as it tighten policy this year.

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One of the few economic bright spots in Australia. Which is struggling with rising interest rate & high inflation, has been the country’s robust employment rate.

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