Australian employment unexpectedly fell in March and the jobless rate edged higher, unwinding some of the huge upside surprise of the prior month and reflecting restrictive settings of monetary policy. The economy shed 6,600 roles, confounding expectations for a 10,000 gain and following an increase of over 100,000 in February, government data showed Thursday. Unemployment ticked up to 3.8% from 3.7% in February. The data “suggests a healthy and still tight labor market,” said Su-Lin Ong, chief economist at the Royal Bank of Canada. “Despite sub-trend economic growth, a consumer recession, and subdued confidence, the ... (full story)