Australia’s unemployment rate rose unexpectedly in April, increasing pressure on the RBA to cut official interest rates. According to the Australian Bureau of Statistics (ABS), unemployment jumped to 5.2% after seasonal adjustments, well above the 5.0% level expected. Unemployment stood at 5.1% in March, upwardly revised from the 5.0% rate originally reported. The unemployment rate now sits at the highest level since August 2018, moving further away from the eight-year low of 4.94% set in February this year. By state, unemployment increased in all locations except for Queensland where it fell from 6.1% to 5.9% in ... (full story)