Australia’s unemployment rate held steady in April, as 89,000 people found employment — much stronger jobs growth than had been forecast. The unemployment rate remained at 4.1 per cent last month, the same level as in March. Economists say the strong jobs report is unlikely to prevent the Reserve Bank from cutting interest rates at its next meeting, but it could mean the RBA will be less aggressive with rate cuts later this year. Seek senior economist Blair Chapman says the central bank will be looking at inflation, wages growth and retail sales and he doesn’t think the data so far will stop the RBA from cutting.
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