Australia's jobless rate held steady at 5.8%

In April and came in just below consensus of 5.9%. The number of people in work climbed 14,200, although the participation rate slipped to 64.7% from 64.8%. The increased number of jobs comes after the Reserve Bank of Australia left its benchmark interest rate at a record-low 2.5% this week amid slowing inflation and ahead of expected cuts in government spending.