The ABS is out with April Labour Force and the news is higher unemployment:
TREND ESTIMATES
- 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.
LABOUR UNDERUTILISATION
- 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.
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More to come.
