Growth in the Australian job market slowed back in March, with the unemployment rate slipping from expectations and fewer job additions.
The Australian Bureau of Statistics (ABS) reported the unemployment rate unchanged at 4.0%, a 13 -and -a -half -year low, falling short of expectations of a decline to 3.9%.
While the increase in jobs rose to 17,900 last month from 77,400 previously recorded, well below market forecasts of an increase of 30,000.
However, the initial reaction exhibited by the Aussie dollar following this publication showed that it remained stable against the gloomy US dollar during the Asian session.
These recorded figures are likely to bring disappointment for Prime Minister Scott Morrison to be used as a weapon of his manifesto in the midst of an intense election campaign.
It may also ease pressure on the Australian Central Bank (RBA) to raise interest rates. Even so, the market still expects the first rise to take place in June.
The RBA has previously set aside its stance to be tolerant of loose policy amid a rising labor market that will push wages higher and add to inflationary pressures.
