The ABS is out with April Labour Force and the news is higher unemployment:
- Employment increased 20,700 to 12,814,800 persons. Full-time employment increased 14,700 to 8,793,900 persons and part-time employment increased 6,100 to 4,020,900 persons.
- Unemployment increased 6,100 to 689,600 persons.
- Unemployment rate remained steady at 5.1%.
- Participation rate remained steady at 65.7%.
- Monthly hours worked in all jobs increased 5.6 million hours to 1,786.0 million hours.
SEASONALLY ADJUSTED ESTIMATES
- Employment increased 28,400 to 12,822,900 persons. Full-time employment decreased 6,300 to 8,792,700 persons and part-time employment increased 34,700 to 4,030,200 persons.
- Unemployment increased 21,200 to 703,900 persons.
- Unemployment rate increased 0.1 pts to 5.2%.
- Participation rate increased 0.2 pts to 65.8%.
- Monthly hours worked in all jobs increased 2.5 million hours to 1,788.5 million hours.
- The monthly trend underemployment rate remained steady at 8.3%. The monthly underutilisation rate increased 0.1 pts to 13.4%.
- The monthly seasonally adjusted underemployment rate increased 0.3 pts to 8.5%. The monthly underutilisation rate increased 0.4 pts to 13.7%.
Not terrible numbers in jobs growth but the headline unemployment rate is up and check out the underemployment surge.
Lock in your June rate cut. Australian dollar bashed. Bonds boom.
More to come.