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Last Week’s Highlights
Australia’s unemployment rate rises to 6.2%
The latest labor market statistics from Australia saw the national unemployment rate rising to 6.2% in April. This was higher than the unemployment rate for March, which was 5.2%.
However, the data was not as bad as forecasts of an increase to 8.3% for the period.
That said, the Australian economy lost 594,300 jobs during the month, which was comparatively higher than the forecasts of 575,000 jobs lost. The full-time employment fell by 220,000 and there were declines even in the part-time employment sector.
China’s industrial production rebounds in April
Industrial production in China saw a rebound in April, rising 3.9% on a year over year basis. The rebound in April saw declines of 1.1% on the year in March. The data also beat estimates as economists were betting that industrial production would rise just 1.5% on the year.
On the downside, China’s retail sales fell 7.5% on the year. This was slower than the 15.8% incre...
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