ibusinesslines.com August 21, 2018

Kentucky Preliminary April Unemployment Rate 4 Percent

18 May 2018, 01:15 | Charlene Valdez

Jobless rate ticks up to 5.6 per cent

Employment conditions at record high

The unemployment rate is at its highest level since July previous year.

However, the jobless rate ticked up to 5.6 per cent in April as more people sought employment, encouraged by last year's record jobs growth.

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

AMP Capital senior economist Diana Mousina said this was due to a slight rise in the participation rate - a measure of the number of people working or looking for work - to 65.6 per cent.

The participation rate climbed to 65.6 percent, near levels seen in early 2011, as more women entered the labour force. Last year, full-time employment accounted for nearly 80% of total employment growth but that has fallen to 40% in the first four months of 2018.

So what gives? Isn't booming employment growth supposed to lead to lower unemployment?

An increase in investment is expected to boost economic growth and address joblessness, according to him.

Meanwhile, the S&P/ASX 200 index traded 0.20 percent lower at 6,098.5 by 03:35 GMT, while at 03:00GMT, the FxWirePro's Hourly AUD Strength Index remained highly bullish at 135.87 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend).

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. Real wage growth - that is wages adjusted for inflation - have barely increased in the past five years and declined outright in the March quarter. Total hours worked across the Australian economy rose by 3.3% over the past year, the strongest outcome since November 2010, slightly outpacing growth in overall employment.

Unemployment jumped in Queensland to 6.5 per cent and South Australia (to 5.9 per cent).

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