Australia’s Labor Force Survey for April was released during today’s Asian session and has shown data on a change in employment well below expectations, but a slight improvement in the unemployment rate.
The data has arrived as follows:
- The change in employment reached -30,600 compared to the 20,000 expected and from the 70,700 the previous month.
- The unemployment rate reached 5.5% versus the 5.6% expected and from the previous 5.6%.
- The change in full-time employment was + 33,800 compared to the previous one, which was -20,800.
- The change in part-time employment was -64,400 compared to the previous one, which was 91,500.
- The participation rate was 66.0% versus 66.3% expected and 66.3% previously.
The data is mixed, as the fall in the unemployment rate is positive despite the lack of participation and a change in employment below expectations. The increase in full-time workers is also positive.
About the unemployment rate
The unemployment rate published by the Australian Bureau of Statistics is the number of unemployed divided by the working population. If the rate increases it indicates a decrease in the growth of the Australian job market. A rise in the rate indicates a weakening in economic activity. A result below expectations is bullish for the Australian dollar, while a result above is bearish.
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