Australian jobs surprisingly fall, giving RBA scope for patience

(Image: Bloomberg)

Fri, 19 Apr 2024

(Bloomberg) -- Australian employment unexpectedly fell in March and the jobless rate edged higher, unwinding some of the huge upside surprise of the prior month and reflecting restrictive settings of monetary policy.The economy shed 6,600 roles, confounding expectations for a 10,000 gain and following an increase of over 100,000 in February, government data showed on Thursday. Unemployment ticked up to 3.8% from 3.7% in February. The data “suggests a healthy and still tight labour market”, said Su-Lin Ong, chief economist at th...

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