News
 Travel
 Hotels
 Tickets
 Living
 Immigration
 Forum

Unemployment in Australia rose to 5.6% in April, employment growth exceeded expectations

On a seasonally adjusted basis, Australia's unemployment rate rose to 5.6 percent in April from 5.5 percent in March, higher than expected.

Economists had expected the unemployment rate to be 5.5% that month.

Employment rose by 22,599, compared with 20, 000 expected by experts, according to (ABS), the Australian Bureau of Statistics.

Full-time employment rose by 32,700 in April, while part-time employment fell by 10, 000.

On a seasonally adjusted basis, labor force participation rose to 65.6 percent from 65.5 percent in March, surpassing the generally expected 65.5 percent, the Bureau said.

Strong employment growth has been accompanied by rising labour force participation rates over the past year, and unemployment has remained fairly stable since mid-2017.

There have been some signs of a slowdown in the job market in recent months, which economists warn will prevent unemployment from falling to levels commensurate with rising pressure on wages.

Australia's wage growth in the first quarter of this year was still close to its lowest level on record, according to data released on Wednesday, which could force the bank's (RBA) to hold interest rates unchanged for a longer period of time.

On a seasonally adjusted basis, wages rose only 0.5 percent in the first quarter from a month earlier, up 2.1 percent year-on-year.

As household debt soared, the bank expressed concern about weak wage growth. Although the rapid growth in household debt has slowed, it is still at the highest level in the world.


QRcode:
 
 
Reply