SYDNEY, (Reuters) – Australia’s unemployment rate fell to its lowest level in nearly 50 years in April. This was due to more workers being hired by firms. The tightening of the labor market will increase pressure on interest rates.

The Australian Bureau of Statistics released figures on Thursday showing that the unemployment rate was 3.9% for April. This is down from 3.9% in March. These numbers are in line with market expectations.

The employment forecast was not met with an increase of just 4,000, but that was due to a significant 92,400 rise in full-time job opportunities, offset by a drop of 88,400 in part-time work.

Scott Morrison will celebrate the decline in unemployment. This is his clarion call during his election campaign.