Published: Fri, May 18, 2018
Sport | By Gary Shelton

Jobless rate ticks up to 5.6 per cent

Jobless rate ticks up to 5.6 per cent

The trend unemployment rate remained at 5.5 per cent in April 2018 after the March figure was revised down. The underutilisation rate, which includes the unemployed and those who want to work more hours, is close to 14 percent compared to 8 in the United States.

Figures from the Australian Bureau of Statistics show that the country's monthly unemployment rate has hovered at the 5.5% level since May a year ago.

Participation rate increased by less than 0.1 pts to 65.7%.

And with economic growth expected to pick up, he was reasonably confident that unemployment will resume a gradual downward trend, which will also lead to a pick-up in wages.

Despite evidence that employment growth has slowed, participation in the labour force has never been higher.

"We expect the wage growth will remain below 2.5 percent throughout this year and next", said Kate Hickie, Sydney-based economist at Capital Economics.

Zuckerberg to meet European Union officials _ dodging public grilling
While Nix has testified once to the committee, lawmakers want him to give further evidence - a request he had previously declined. Zuckerberg will meet leaders behind closed doors, something that's being slammed by Liberal leader Guy Verhofstadt on Twitter .

Annual job growth of 2.7 percent was more than one and half times the U.S. pace of job creation of 1.6 percent.

With labour market slack still quite high, particularly when accounting for broader measures of unemployment, it is little surprise that wage growth remains subdued.

It has remained between 5.4 percent and 5.6 percent for nearly a year even as annual job growth accelerates at 2.7 percent, more than one-and-a-half times the USA pace of job creation of 1.6 percent. Real wage growth - that is wages adjusted for inflation - have barely increased in the past five years and declined outright in the March quarter.

Monthly hours worked in all jobs increased 19.4 million hours (1.11%) to 1,764.0 million hours.

The post April AU Labour Force Survey: A Wage Problem appeared first on Indeed Hiringlab Australia.

Like this: