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Australia jobless rate ticked higher in April, job additions beat estimates

Australia jobless rate ticked higher in April, job additions beat estimates

Participation in the workforce has never been higher, led by stronger participation by women and older Australians, but the unemployment rate continues to drift slowly upwards.

The unemployment rate has increased to 5.6 per cent despite a rise in the number of people with jobs in April. Softer growth has mainly been felt through full-time roles. This continued the recent slowing of employment growth, particularly full-time employment growth. It increased to 65.7% in April, beating the previous record established in December 2010. It has remained between 5.4 percent and 5.6 percent for nearly a year.

Annual job growth of 2.7 percent was more than one and half times the U.S. pace of job creation of 1.6 percent.

In order for unemployment to fall, and for wage growth to eventually pick up, employment will need to outstrip growth in the size of Australian labour market for a considerable period.

South Africa's unemployment rate remained unchanged at 26.7% in the first quarter of 2018 compared to the fourth quarter of 2017, according to a quarterly labour force survey released by Statistics South Africa (Stats SA) on Thursday.The quarterly labour force survey reflects the growth in employment numbers across various sectors, Stats SA said.




Monthly hours worked in all jobs increased 4.7 million hours (0.27%) to 1,749.4 million hours.

Finally, at the state level we may be seeing an emergence of a two-speed labour market.

The strength of employment has been one of the brightest parts of the economy but the Reserve Bank of Australia (RBA) is awaiting a steady decline in the jobless rate and a revival in wage growth before considering an end to its easy policy.

As seen in the chart below, the size of Australia's labour force has also surged over the past year, jumping by 341,900.


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