Around 7,000 jobs were lost in March, bringing the unemployment rate up to 3.8 per cent, while nearly 21,000 workers joined the jobless queue. Subscribe: http://ab.co/1svxLVE Read more here: https://www.abc.net.au/news/2024-04-18/unemployment-rate-march-2024-3-8-per-cent/103736778
But compared to historical standards, the labour sector is still considered strong.
Economists say this further reduces the likelihood of debt charge rate cuts happening soon.
At the start of this year, money markets were betting the RBA would cut rates at least two or three times by Christmas.
But with inflation still elevated and the jobs sector still tight, there are now doubt rate cuts will even happen at all this year.
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