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Australian unemployment rate in April at 4.1% (compared to 3.9% expected)

The sharp rise in the unemployment rate was somewhat offset by the sharp rise in employment. But all this is done part-time while full-time has decreased. It’s not hard to imagine companies laying off full-time workers and replacing them.

AUD/USD is having a little trouble understanding this. Let me make this clear. This is a horrible result.

This would put another nail in the coffin to the idea of ​​an RBA rate hike.

This article was written by Eamonn Sheridan at www.forexlive.com.

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