Australia’s Economy Loses Jobs as Unemployment Rises to 6.2%

Australia’s economy lost jobs for the month of April after two strong months of employment, underscoring the continued fragility of the labor market.

The nation’s employment declined by 2,900, data showed on Thursday, missing Reuters’ forecast for a 5,000 rise. The figure was made up of a fall of 21,900 in full-time employment and a 19,000 rise in part-time employment.

However, March employment was revised up to show a gain of 48,200, and that followed a 38,000 rise in February. Year to April, 177,600 net new jobs were created while the labor force expanded by 230,900.  Meanwhile, the jobless rate edged up to 6.2 percent in April from 6.1 percent in March.