Business
Australia’s unemployment rate falls to 5.5% as economy shrugs off end of jobkeeper – The Guardian
Despite the loss of 30,600 jobs in April, the employment figures will be well-received after the concerns about ending the wage subsidy
The Australian economy has shrugged off the end of jobkeeper wage subsidies, with unemployment falling to 5.5% despite the loss of 30,600 jobs in April.
The labour force statistics, released on Thursday, show that 33,600 people mostly women exited the labour market in April, driving participation down 0.3% to 66%, and that 13m fewer hours were worked.
But the figures will be well-received after warnings from the Reserve Bank that the economy would likely shed jobs when the subsidy ended, resulting…
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