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Australia Unemployment Rate Falls To 5.7% In April

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The jobless rate in Australia was a seasonally adjusted 5.7 percent in April, the Australian Bureau of Statistics said on Thursday.

That beat forecasts for 5.9 percent, which would have been unchanged from the March reading.

The Australian economy added 37,400 jobs to 12,099,300 in April.

That was well above expectations for a gain of 5,000 jobs following the downwardly revised addition of 60,000 jobs in the previous month (originally 60,900).

Full-time employment decreased 11,600 to 8,227,400 and part-time employment increased 49,000 to 3,871,900.

Unemployment decreased 19,100 to 732,300. The number of unemployed persons looking for full-time work decreased 12,300 to 514,200 and the number of unemployed persons only looking for part-time work decreased 6,800 to 218,000.

The participation rate was 64.8 percent - unchanged from March, but beating expectations for 64.7 percent.

Monthly hours worked in all jobs decreased 4.3 million hours (0.26 percent) to 1,659.5 million hours.

Also on Thursday, the Melbourne Institute said that consumer prices in Australia are predicted to have risen 4.0 percent on year in May.

That's down from 4.1 percent in April, and it moves further off of January's multi-year high reading of 4.3 percent.

The Australian Bureau of Statistic's official read on inflation for the first quarter of 2017 was 2.1 percent on year.

by RTT Staff Writer

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