Australian Jobs Surprisingly Fall, Giving RBA Scope for Patience
- Decline in hiring in March follows outsized gain in February
- Part-time roles led declines, while full-time positions gained
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Australian employment unexpectedly fell in March as the jobless rate edged higher, reflecting restrictive monetary policy settings.
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 Thursday. Unemployment ticked up to 3.8% from 3.7% in February.