Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
The Australian unemployment rate rose 4.1% in April, up from the prior month’s revised 3.9% and 20 basis points higher than expected, while employment grew by 30,900, stronger than the market’s 23,000 forecast, data from the Australian Bureau of Statistics showed Thursday.
The Reserve Bank of Australia expects unemployment to reach 4.0% by the June quarter.
"The increases in both employment and unemployment in April saw the participation rate up by 0.1 percentage point to 66.7% in April,” said Bjorn Jarvis, head of labour statistics at the ABS. “It has been relatively high, above 66.5%, since March 2023.”
The RBA will likely focus strongly on underutilisation and wage growth to gauge labour market strength alongside the unemployment rate, MNI reported this week. (See MNI INTERVIEW: Chance RBA Hikes Again - Ex Senior Official)
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.