S/Africa's unemployment rate at 26.7% - Agency

Daniel Fowler
May 17, 2018

Australia's jobless rate rose to a nine-month high of 5.6 percent in April as more people looked for work, but the number of employed beat expectations as more full-time jobs were added.

That involved 14,000 extra jobs created - 8000 full-time and 6000 part-time - and a lot more people wanting to join the workforce - a rise in the participation rate to 65.7 per cent, the highest level since 1978.

The trend unemployment rate remained at 5.5 per cent in April 2018 after the March figure was revised down.

The Australian dollar has been boosted by the data, trading at 75.27 U.S. cents at 1200 AEST, up from 75.18 USA cents just prior to the release.

The seasonally adjusted number of persons employed increased by nearly 23,000 persons in April 2018.

Grenfell cladding will not be banned
He added: "We are consulting on significantly restricting or banning the use of desk-top studies to assess cladding systems". "Since the tragic events at Grenfell Tower, we have taken steps to ensure the immediate safety of all high rise buildings".

The group's report found average nominal and real wages growth - the increases without accounting for inflation and the real buying power of rises when inflation is taken into account - went backwards over the decade from 2007 and fell to historically slow rates in 2016. There was also a lift in the participation rate which measures the number of people in work or looking for employment.

"That's a million more Australians who have had the opportunity to realise their dreams", Prime Minister Malcolm Turnbull beamed, while visiting a Brisbane small business on Thursday.

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 US pace of job creation of 1.6 percent.

Ms Hunter expected jobs growth to remain subdued for at least the rest of 2018, given weak retail figures in the March quarter and the coming downturn in residential construction.

While the ABS employment data has softened in recent months, and the unemployment rate has been broadly unchanged for around a year, NAB believes the employment index, and survey leading indicators of labour market conditions all point to this being a temporary phenomenon.

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