Unemployment jumps, raising the chances of an economic downturn | The Business | ABC NEWS
Australian Bureau of Statistics figure show the unemployment rate rose by 0.2 percentage points to 4.5 per cent in April, up from 4.3 per cent in March. The number of employed people fell by 18,600 in April, while the number of unemployed people rose by 33,000. A drop in female employment drove the overall fall. While the monthly number is notoriously volatile, HSBC chief economist Paul Bloxham told The Business combined with other weak indicators in the economy, like falling business confidence and consumer sentiment, the fall in employment in the month is another indicator that the economy is weakening quite quickly “that we’re going into a downturn.”
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