Australia unemployment rate falls, consumer prices up
The Australian economy added 37,400 jobs to total 12,099,300 in April. That was well above expectations for a gain of 5,000 jobs following the downwardly revised addition of 60,000 jobs in the previous month.
Full-time employment decreased 11,600 to 8,227,400 and part-time employment increased 49,000 to 3,871,900.
In other economic news, data from the Melbourne Institute showed that consumer prices in Australia are predicted to have risen 4.0% on year in May.
That's down from 4.1% in April, and it moves further off of January's multi-year high reading of 4.3%.
The Australian Bureau of Statistic's official read on inflation for the first quarter of 2017 was 2.1% on year. ■