Australia employment rose just 4k in April, missing expectation of 30k growth. Full time jobs rose 92.4k while part-time jobs dropped -88.4k.
Unemployment rate was unchanged at 3.9%, matched expectations. Participation rate dropped -0.1% to 66.3%. Monthly hours worked rose 23m hours, or 1.3% mom.
Bjorn Jarvis, head of labour statistics at the ABS, said, “3.9 per cent is the lowest the unemployment rate has been in the monthly survey. The last time the unemployment rate was lower than this was in August 1974, when the survey was quarterly.”
