Labour Force for April is out and unemployment is lifting again:
Employment increased 22,600 to 12,501,000. Full-time employment increased 32,700 to 8,543,400 and part-time employment decreased 10,000 to 3,957,700.
Unemployment increased 10,600 to 741,000. The number of unemployed persons looking for full-time work decreased 17,100 to 506,100 and the number of unemployed persons only looking for part-time work increased 27,600 to 234,900.
Unemployment rate increased by 0.1 pts to 5.6%.
Participation rate increased by 0.1 pts to 65.6%.
Monthly hours worked in all jobs increased 19.4 million hours (1.11%) to 1,764.0 million hours.
Not bad numbers but the trend in unemployment is changing to up as the Botox Boom peaks and the people keep on coming.
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
