Seasonally adjusted estimates for April 2022: • unemployment rate remained at 3.9%. • participation rate decreased to 66.3%. • employment increased to 13,401,700. • employment to population ratio remained at 63.8%. • underemployment rate decreased to 6.1%. • monthly hours worked increased by 23 million hours. {table} Unemployment: In seasonally adjusted terms, in April 2022: • unemployment rate remained at 3.9%. • unemployment rate was 1.4 pts below March 2020. • unemployed people decreased by 11,000 to 537,100. • unemployed people was 182,300 lower than March 2020. • youth unemployment rate increased by 0.5 pts to ... (full story)

AUD/USD pares intraday gains around 0.6960 as the Aussie jobs report flashed mixed reports during early Thursday. Also challenging the pair moves is a lack of major data/events elsewhere as well as a softer USD. That said, Australia’s headline Unemployment Rate marched 3.9% forecast while refreshing the all-time low but a fall in the Employment Change to 4K, versus the market consensus of 30K and 17.9K prior, seems to have weighed on the AUD/USD prices. It’s worth noting that the softer-than-expected prints of the Aussie Wage Price Index for Q1 2022 probed the RBA hawks the previous day. Given the softer Employment ... (full story)