Unemployment rate in Australia fell to its lowest levels in March, since September 2013, touching 5.70%, according to data released by the Australian Bureau of Statistics. Analysts expected the unemployment rate to rise to 5.80%. There was a net gain of 26,100 jobs but most of the gains came from part-time positions while full time jobs fell by 9000 with mining and manufacturing seeing a contraction but as expected with the ongoing shifts in the Australian economy rebalancing itself. Better than expected unemployment rate is positive for the RBA and takes away any pressure of rate cuts and highlighting the fact that the Australian labor market was reasonably healthy.
China GDP grows 6.70% in Q1 2016
Daily Analysis - 15/04/2016