While 25,000 jobs were expected to be added in April, 4,300 were lost! Job growth was strong in earlier months of this year.
The unemployment rate jumped to 3.7% from March's 3.5%. This is still historically low but an increase in joblessness is not welcome. The rapid expansion in immigration after it ground to a halt during the pandemic is adding to the labour force pool.
Data post is here:
The data today gives the Reserve Bank of Australia scope to pause at its 6 June meeting.
The Australian dollar is lower:
