Breaking: Aussie jobs big miss on Employment Change, slight improvement on the Unemployment Rate

Australia's April labour force survey has been released and has shown a big miss on the Employment Change to the downside but an improvement on the Unemployment Rate.

• Employment Change: -30.6K vs. expected 20K, prior 70.7K

• Unemployment Rate: 5.5% vs. expected 5.6%, prior 5.6%

• Full-Time Employment Change: +33.8K vs. prior was -20.8K

• Part-Time Employment Change: -64.4K vs. prior was 91.5K

• Participation Rate: 66.0% vs. expected 66.3%, prior was 66.3%

More to come...

AUD/USD update

Moe to come...

About the Unemployment Rate

The Unemployment Rate released by the Australian Bureau of Statistics is the number of unemployed workers divided by the total civilian labour force.

If the rate hikes, indicates a lack of expansion within the Australian labor market. As a result, a rise leads to weaken the Australian economy. A decrease of the figure is seen as positive (or bullish) for the AUD, while an increase is seen as negative (or bearish).