Another 14,200 jobs have helped keep the country’s unemployment rate steady in April 2014.
Australian Bureau of Statistics today released its monthly Labour Force figures for the month of April 2014. The unemployment rate remained steady at 5.8% as per the Bureau’s report. The results of the survey have once again challenged the predictions of various economists who had expected a slight jump in the unemployment rate to 5.9%. Much to the surprise of the economists, the Bureau found that an estimate of 14,200 full-time jobs were generated last month. The report also suggested that no part-time jobs were lost either in April, keeping the unemployment rate steady.
Participation rate decreases 1 basis point to 64.7% The report also indicated that the participation rate has dropped slightly. While the number of unemployed people looking for full-time work increased by 8700, those looking only for part-time work decreased by 9000.
The Australian dollar jumped about a third of a cent to 93.62 US following the release of the labour figures by the ABS.