The Australian economy lost 27,100 full-time jobs in April as unemployment rose to 3.7%

The labour market has remained tight since Covid curbed the influx of migrants and foreign students

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Australia's economy shed 27,100 full-time jobs last month, easing concerns that the Reserve Bank may need to hike its interest rate again to curb inflation.

The country's unemployment rate in April rose to 3.7%, seasonally adjusted, the Australian Bureau of Statistics said on Thursday, up from a reported 3.5% for March. Economists had forecast it would remain at March's 3.5% level, close to a half-century low.

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