Australia’s labor market delivered a robust performance in April, with employment figures far exceeding expectations. The economy added 89,000 new jobs, more than four times the forecasted 20,900 increase.
Additionally, March’s previously reported job gains of 36,400 were revised downward to 32,200, indicating a slightly weaker labor market than initially estimated. However, April’s strong rebound suggests renewed momentum in hiring.
The unemployment rate remained steady at 4.1%, matching both March’s figure and market expectations. The data reinforces concerns about persistent wage pressures, potentially delaying any near-term interest rate cuts by the Reserve Bank of Australia (RBA).
Analysts will now watch for signs of whether this hiring surge is sustainable or a temporary spike, as it could influence the RBA’s next policy moves
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