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Economy

Australia's unemployment lowest since 1974

Hot job market opens door to interest rate hikes

Shoppers browse an outdoor retail area in Melbourne: The jobless rate in Australia held steady at 3.9% in April, from a downwardly revised 3.9% in March.   © Reuters

SYDNEY (Reuters) -- Australia's unemployment rate stood at its lowest in almost 50 years in April as firms took on more full-time workers, a tightening in the labor market that will ratchet up pressure for further hikes in interest rates.

Figures from the Australian Bureau of Statistics on Thursday showed the jobless rate held at 3.9% in April, from a downwardly revised 3.9% in March, matching market forecasts.

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