Economics
Australia Adds Jobs as Unemployment Rate Holds at 5.7%
- Employment data comes in slightly under economist forecasts
- Gains driven by surge in part-time roles as full-timers fall
Australia's Jobless Rate Better Than Expected at 5.7%
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Australia’s economy added jobs in April and the unemployment rate held at a 2 1/2 year low as the number of people in part-time roles increased.
The report signals that record-low interest rates are aiding a revival in industries like construction, tourism and education that’s helping soak up unemployed workers as a resource boom winds down. The second straight month of jobs growth also provides a boon for a government seeking to push its economic credentials ahead of a July 2 election. Still, wage growth is stagnant and the investment outlook remains weak.