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Australian Unemployment Rate Holds Steady in April

-- Australia's seasonally adjusted unemployment rate logged at 4.3% in March, unchanged from March, reported the Australian Bureau of Statistics (ABS) on Thursday.

The nation's labor participation rate, that is the percent of adults working or seeking work, also remained unchanged in March from February, at 66.8%.

Likewise, the employment-to-population ratio remained at 64.0%, unchanged in March from the previous month.

In March, there were 14.76 million people employed in Australia, up 0.2% on month and up 1.4% on year, reported the ABS.

In somewhat better news, the cumulative number of hours worked by all employees in Australia in March rose 0.2% on month and 2.0% on year, said the ABS.

Australia's employment picture may remain largely unchanged through 2026, if a recent forecast from the nation's central bank holds water.

In February, the Reserve Bank of Australia said it expects Australian gross domestic product (GDP) expand by about 1.8% in 2026, undergirded by household consumption and public spending.

The nation's unemployment rate should end the year near 4.3%, the same as the April rate, according to the RBA forecast.

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