Employment in Australia surged in April after more than 50,000 people found jobs in the country in the month alone. The additional number of jobs added is far different from the predicted 12,000.
This development resulted in a half a cent rose of the Australian dollar against the U.S. currency, just right after the data was released by the Australian Bureau of Statistics (ABS).
The latest data also showed a significant rise in the total number finding full-time employment and in working hours, a good sign for the future of the Australian economy and labor market.
“The labor force data continues to surprise. Obviously, it always pays to be suspicious of big moves in either direction, but there is clearly a positive job pulse in the Australian economy “, said Hans Kunnen, chief economist at St George Bank.
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