THE Australian share market is trading higher, boosted by a solid performance from US markets and expectations interest rates may fall following disappointing local jobs figures.
The local bourse was buoyed by stronger markets on Wall Street, where the Dow Jones Industrial Average and S&P500 indices posted fresh highs overnight.
The Australian market maintained its position in positive territory around the key 5,000 point mark after official figures showed that Australia's unemployment rate rose 0.2 per cent to 5.6 per cent in March.
IG Markets market strategist Stan Shamu said the jobs figures showed the local jobs market was not looking good at all.
"It was a pretty big miss...the jobs market is showing signs of cracks," Mr Shamu said.
He said the latest job figures may help persuade the Reserve Bank of Australia to cut the cash rate again in a bid to boost the economy.