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Australia’s unemployment rate rises to 8-month highs in April, beats Street expectations

  • The Australian economy added 28,400 jobs in April while the number of unemployed individuals increased by 21,200.
  • Full-time employment dropped by 6,300 while part-time jobs rose by 34,700.

The unemployment rate in Australia rose to 5.2 percent in April, the highest since August last year, beating market expectations of a 5.1 percent increase. The data, published by the Australian Bureau of Statistics on Thursday also revised last month’s figures from 5.0 to 5.1 percent, even as workforce participation rate rose from 65.7 percent in March to 65.8 percent last month.