RBA interest rates: April jobs data shows massive 89,000 new roles created in a month

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RBA interest rates: April jobs data shows massive 89,000 new roles created in a month

Australia has posted another month of exceptionally strong employment growth with 89,000 jobs added in April.

The unemployment rate remained at 4.1 per cent, according to fresh data from the *********** Bureau of Statistics released on Thursday morning.

There was a huge influx of workers into the labour force in April — and the share of Australia’s population in jobs is close to a record high.

Almost three quarters of the employment growth for the month was among women.

The numbers are the last key piece of the economic puzzle before the Reserve Bank meets on Monday and Tuesday next week to lock in an interest rate decision for May.

Economists and markets have widely tipped a rate cut as inflation comes under control and amid the chaos of US President Donald Trump’s sweeping and largely baseless trade war.

The data also comes amid ongoing debate between the RBA and economists about how low unemployment can remain without extra pressure to inflation.

On Wednesday, AMP deputy economist Diana Mousina said the labour market had held up well in recent months but expected the jobless rate would lift to 4.5 per cent.

Wages picked up pace in data released this week and, at 3.4 per cent, were running faster than inflation for the year to March.

EY senior economist Paula Gadsby said those numbers had been close to Reserve Bank forecasts, although better than expected.

Education, healthcare and social assistance were among the top performers in the quarter — and analysts slated those gains to government-backed pay deals for aged care and early childhood services.

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