Australia / 50,100 jobs added unemployment down

The unemployment rate has confounded most economists by falling from 5.6 to 5.5 per cent.

The Bureau of Statistics labour force survey estimates that 50,100 jobs were added in April, with 34,500 full-time positions and 15,600 part-time jobs created.

Economist forecasts in a survey by Bloomberg centred on only 11,000 jobs being created which was expected to leave the jobless rate steady at 5.6 per cent.

The fall in unemployment came despite an increase in the proportion of the population in work or looking for it, with the so-called participation rate rising from 65.2 to 65.3 per cent.

Total hours worked also rose by 0.7 per cent to 1.64 billion.

The more stable trend unemployment rate, which smooths out monthly volatility, remained steady at 5.5 per cent.

Chosen excerpts by Job Market Monitor

via Surprise jobs surge pushes unemployment lower – ABC News (Australian Broadcasting Corporation).