Australia’s April labour force survey has been released and has shown a big miss on the Employment Change to the downside but an improvement on the Unemployment Rate.
The data arrived as follows:
Employment Change arrived as -30.6K against the expected 20K, prior 70.7K.
The Unemployment Rate arrived at 5.5% against the expected 5.6%, prior 5.6%.
Full-Time Employment Change came in at +33.8K against the prior that was -20.8K.
Part-Time Employment Change came in as -64.4K against the prior that was 91.5K.
Participation Rate was lower at 66.0% vs the expected 66.3% and prior, 66.3%.
The data is giving something for both the bears and the bulls as the Unemployment rate decline is positive despite the lack of participation and a miss in the Employment Change. Full-time workers is also a plus.
AUD/USD update
Meanwhile, the reaction in the Aussie was mixed but mostly positive and it is starting to climb to a session high of 0.7741.
About the Unemployment Rate
The Unemployment Rate released by the Australian Bureau of Statistics is the number of unemployed workers divided by the total civilian labour force.
If the rate hikes, indicates a lack of expansion within the Australian labor market. As a result, a rise leads to weaken the Australian economy. A decrease of the figure is seen as positive (or bullish) for the AUD, while an increase is seen as negative (or bearish).
