Australian unemployment trends higher

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.

Much more to come.

Comments

    • What happened to “Jobs and Growth”?
      Turns out it was jobs promised to LNP members by big corporates and growth in immigration.

    • I thought we were gonna have an innovation boom, Malcolm said so and put those ads on the TV, it was great. Really liked the idea.

      • Actually if you work in the fintech / start-up / VC space, you would probably know we are in the middle of a “mini” innovation boom at the moment (have been for a couple of years). However what it all amounts to still remains to be seen…. I’m hopefully that a few more Atlassian’s might pop out of it all in the end.

  1. DingwallMEMBER

    AUD was flummoxed and just sat there…. until it was decided it’s good.

    Labour force participation has hit a record high of 65.7 per cent in April according to the ABS.
    “The labour force participation rate was the highest it has been since the series began in 1978, indicating increasing attachment to the labour force,” the chief economist for the ABS, Bruce Hockman said.

    Increased attachment ? Is that ball and chained to the coffee machine ?

    • Torchwood1979

      AUD is as bat crap crazy as our political economy. I give up on you, dear Aussie…

      • Torchwood1979

        Actually I just inherited half of two investment properties in Dubbo, currently waiting on probate so we can liquidate. My fear of the Aussie housing crash is suddenly alive and well!

    • Somehow does not ring true in the real sense of participation rate. Back in the late 70’s you could get a full time job after 1 interview. Now as my other half found out recently that even after 3 interviews for a temp job for 2 weeks that the competition was so hot she was asked to queue up in second place in case the ‘winner’ did not turn up. Lots of other failted interviews prior to this also. I also applied for a part time McJob with our biggest hardware store in order to fill in a few months idle. Failed first interview, they wanted 10 part time workers and interviewed 200 people. I got the impression that most of them were desperate for work and some travelled 20kms for this crock of shit. (so called round table interview with 10 at a time, being judged by 2 18 year old juniors with clip boards WTF?)

  2. So far this week there has been reported falling consumer confidence, benign wages growth and increasing unemployment. No wonder the Aussie has taken off!

    • DominicMEMBER

      Yes, but the commodity space has shown signs of perking up. Commodities still in charge of the AUD and CAD it seems. Will need some seriously ugly economic data to buck that relationship … just thinking out loud.

  3. mine-otour in a china shop

    Record Labour force participation continues proclaims the ABS media department!

    Just to note also the incoming rotational group for the sample has lower unemployment rates than the outgoing group. Also the new underemployment estimates “have been delayed”.

    What will be the next ABS headline? Could it be Straya unemployment remains high compared to global competitors? Some chance…..

    • DingwallMEMBER

      It sort of did … now I look at the overalls…
      At about 11:30 or just after the announcement what market opened? I ask because the AUD jumped but so did other currencies against the USD. The Loonie spiked as well as the euro and, to a lesser degree, the pound. The AUD may have bounced higher with people suddenly thinking the employment was good when that spike occurred…

  4. This is good news, wages will be driven down, making Oz more competitive in the Global market!

    • Yes, the lowest paid wages in the world are in the countries with the best economic, social, and political structures, also they have the best infrastructure and services like hospitals and stuff. eg The Philippines, India, Vietnam, Burma etc. (according to neo liberal folk-law) Places like Norway and Switzerland cant compete and everything is falling apart (they would have us believe).

  5. Basically every migrant allowed in, be it via Citizenship, PR, and especially on a TR, Visitor visa or coming in to work illegally as a tourist….
    Combined, over 70% are of third world origin and unskilled.

    This creates major impact in job loss, wages impact, congestion, demands on services, degraded education and health care.
    And major issues in housing affordability and homelessness.

    Highly concentrated in Sydney and Melbourne

    Australian total last decade, current onshore.
    PR/Citizen Migrant Grants :2,000,000
    76% in Sydney or Melbourne.

    Temporary Visas 2,200,000
    86% in Sydney or Melbourne.

    Tourists working illegally 440,000
    92% in Sydney or Melbourne

    Over-stayers 56,0000
    84% in Sydney or Melbourne

    Total 4.7 million.

    Sydney new Migrant settlement concentration
    PR/Citizen Grants 1,520,000
    Temporary Visa 800,000
    Illegally working Tourists 193,000
    Over-stayers 21,600
    Total 1,983,260

    Melbourne new Migrant Settlement concentration
    PR/Citizen Migrant grants 720,000
    Temporary Visa 924,000
    Illegally Working Tourists 211,200
    Over-stayers 26,220
    Total in Melbourne 1,881,420