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AAP
AAP
Politics
Jacob Shteyman

Jobless jump, Iran war shoot down fears of rate rise

Reserve Bank the Reserve Bank IG RBA SEEK
The Reserve Bank could hold interest rates as Australia's jobs market shows signs of softening. (James Ross/AAP PHOTOS)

The likelihood of a rate hike in June has shrunk after a surprise jump in the unemployment rate showed the Iran war is having a material impact on Australia's economy.

While bad news for workers, the rise in the jobless rate from 4.3 per cent to 4.5 per cent in April will be greeted with a sigh of relief by the Reserve Bank.

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