Surprise jobless rate fall buoys optimism as inflation fears continue to spook investors - I speak with EY chief economist Jo Masters

A further fall in the official jobless rate has defied earlier fears that the removal of the emergency JobKeeper program in late March would create a surge in unemployment. 

But as economies recover from the pandemic-induced crisis, investors are watching rising inflation amid concerns that central banks might be forced to hike interest rates sooner than expected. 

ABC's Peter Ryan says financial markets are spooked by good news about the recovery being interpreted as bad news.

I also speak with Tom Oriti on ABC NewsRadio