The Australian economy lost 27,100 full-time jobs in April as unemployment rose to 3.7%

Economists had expected the unemployment rate to remain at 3.5%, close to a half-century low. Photograph: Olivier Douliery/AFP/Getty Images

Australia’s economy shed 27,100 full-time jobs last month, easing concerns that the Reserve Bank may need to hike its interest rate again to curb inflation.

The country’s unemployment rate in April rose to 3.7%, seasonally adjusted, the Australian Bureau of Statistics said on Thursday, up from a reported 3.5% for March. Economists had forecast it would remain at March’s 3.5% level, close to a half-century low.