Monday, 24 September, 2018


Why unemployment figure is bad news for getting a pay rise

Why unemployment figure is bad news for getting a pay rise Why unemployment figure is bad news for getting a pay rise
Conrad Doyle | 17 May, 2018, 18:29

Australia's jobless rate has edged up to 5.6 per cent despite another 22,600 jobs being added in April.

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.

"Participation in the labour market remains high, which is a positive sign of labour market strength, but the rise in the participation rate caused the unemployment rate to rise to its highest level for 9 months", she said.

The unemployment rate rose to 5.6 per cent in April, from 5.5 per cent in March.

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.

In the first quarter, gains were recorded in the formal sector, with an increase of 111,000 jobs, while the informal sector added 93,000 while private households added 5,000 jobs, the agency added.

There was also a 10,600 increase in the number of unemployed.

Plenty of people are still looking for work, keeping wage growth subdued.

BIS Oxford Economics head of macroeconomics Sarah Hunter said the wage results will make it challenging for the federal government to hit its projected budget surplus in mid-2020 given the Treasury's dependence on robust increases in income tax revenue.

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.

The March figure had prompted concerns about the state of the WA economy.

More than 8000 fewer Queenslanders are in work now than a month ago, new statistics reveal.

National Australia Bank markets chief economist Ivan Colhoun said the Reserve Bank of Australia would see the jobless data as an indication that spare capacity remains in the labour market, increasing the chances that it will keep interest rates on hold for longer than expected.

The fall was driven by men with their unemployment rate falling to 6.6 per cent from 7.2 per cent.

Recommended

loading...
...

Pack of Seven 'Short Legged Dogs' Kill Oklahoma Woman Pack of Seven 'Short Legged Dogs' Kill Oklahoma Woman When first responders arrived on the scene, at least one of the dachshunds turned on them, too, even charging toward the rescuers. A woman in rural Oklahoma was mauled to death when seven dogs, allegedly belonging to a neighbor, attacked her last week.

Odds slashed for Italy to be next country to leave EU Odds slashed for Italy to be next country to leave EU The two party leaders also launched an attack on European Union officials, accusing them of interfering in the talks process. They also taunted Brussels by warning that if European Union capitals were concerned, " then we're doing something right ".

OnePlus 'Bullets Wireless' headphones with fast charging, Google Assistant support launched OnePlus 'Bullets Wireless' headphones with fast charging, Google Assistant support launched With Qualcomm aptX, the Bullet Wireless preserves audio sound data to ensure the clear audio across a wireless connection. OnePlus has claimed that clipping the earbuds together pauses the music while unclipping them will resume playback.

RACE 3 team party hard after unveiling the trailer RACE 3 team party hard after unveiling the trailer Salman was accused of hunting and killing blackbucks in Rajasthan in 1998 when he was filming for Hum Saath Saath Hain. Salman and Jacqueline have done " Kick " together and " Race 3 " will be their second outing.

EFCC Has Recovered N500bn, Secured 486 Convictions Under Me - Magu EFCC Has Recovered N500bn, Secured 486 Convictions Under Me - Magu President is not alone in this, he is not the only corrupt-free Nigerian". President Buhari just ended his two-day working visit to Jigawa State.

NBC Reporter Asks White House If Israel Can Just 'Kill at Will' NBC Reporter Asks White House If Israel Can Just 'Kill at Will' Britain, France and Germany have all called for Israel to exercise restraint after Monday's bloodshed near the Gaza border . PBS NewsHour will update this story as it develops .

Ban on flammable cladding considered after backlash over Grenfell probe Ban on flammable cladding considered after backlash over Grenfell probe She said the new regulatory framework must also address the fact that "residents often go unheard, even when safety issues are identified".

FA Cup Final: Chelsea captain Gary Cahill eyes redemption against Manchester United FA Cup Final: Chelsea captain Gary Cahill eyes redemption against Manchester United In all, Mourinho has won 11 trophies during him time in England, and not many will bet against him making it 12 come Saturday. However, Jones does not think that it has been an enormous successful campaign from the side.

Congress To Demand The "Karnataka Model" In Goa, Manipur, Meghalaya Congress To Demand The The BJP which was not the single largest party in Goa forged an alliance with the MGP and formed the government. When the BJP staked a claim in Karnataka to form the government, the Congress and JD (S) cited the Goa example.

US Iran sanctions to target auto, aircraft sectors first: French govt source US Iran sanctions to target auto, aircraft sectors first: French govt source Attributions of so-called "General Licence H" allowing subsidiaries of USA companies to deal with Iran will be revoked, the source said.

SEC uses mock website to warn investors about cryptocurrency SEC uses mock website to warn investors about cryptocurrency The securities regulator also created a dedicated cyber unit whose objective is to combat fintech as well as cyber-related crimes. SEC created a bogus hedge fund offering in 2003, called "GRDI Select LP", the name is a reference to greedy.

Pregnant Broadway actress loses baby after NYC vehicle crash killed her daughter Pregnant Broadway actress loses baby after NYC vehicle  crash killed her daughter Prosecution told Peoplemagazine that Bruns was arraigned on charges of "manslaughter, criminally negligent homicide and assault". Ruthie - who was seven months pregnant at the time - was injured in the accident, while Abigail was tragically killed.

5 found dead, 1 injured in Ponder home shooting 5 found dead, 1 injured in Ponder home shooting It happened just before 8:30 a.m. on Wednesday morning at a home in the 600 block of Lonestar Park Lane, near FM 2499. Shortly before they responded to the scene, firefighters learned there were multiple victims inside the home.

Punjab National Bank reports huge loss of Rs. 13417 crore in Q4 Punjab National Bank reports huge loss of Rs. 13417 crore in Q4 They said, supplementary chargesheets against Nirav Modi will also be filed soon. During the fourth quarter, the bank posted a net loss of Rs 13,417 crore.

Jobs under threat as Mothercare set to close stores across the UK Jobs under threat as Mothercare set to close stores across the UK The company has not announced which stores will close, but has confirmed 800 jobs throughout the United Kingdom will be affected. Retailers across the board have been battered by weak consumer confidence off the back of soaring Brexit-fuelled inflation.