Australia jobs climb 39,700 in May, unemployment dips to 4% – SRN News

Australia jobs climb 39,700 in May, unemployment dips to 4%

SYDNEY (Reuters) – Australian employment outpaced expectations in May as firms took on more full-time workers, while the jobless rate dipped in a sign the labour market remains resilient to high interest rates and weak consumer demand.

Figures from the Australian Bureau of Statistics on Thursday showed net employment rose 39,700 in May from April. Market forecasts had been for a gain of 30,000. Full-time employment jumped 41,700 following a couple of soft months.

The jobless rate eased back to 4.0%, from 4.1%, in line with market forecasts. The participation rate held at an historically high 66.8%, while hours worked dipped in the month.

(Reporting by Wayne Cole; Editing by Kim Coghill)