The number: Australian employment increased 38,500 in April, following a loss of 6600 the previous month, seasonally adjusted. The unemployment rate rose to 4.1 per cent. That’s up from 3.9 per cent in March which has been revised higher. Consensus was for 23,700 jobs created and unemployment at 3.9 per cent.
What was said: ”The 30,000 people increase in unemployment reflected more people without jobs available and looking for work, and also more people than usual indicating that they had a job that they were waiting to start in,” said ABS head of labour statistics Bjorn Jarvis. Why it matters: The labour market is still too strong to bring inflation back to the Reserve Bank’s target. The job report is notoriously volatile due to seasonal adjustments.
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