Money Australian unemployment is increasing

13:32  17 may  2018
13:32  17 may  2018 Source:   businessinsider.com.au

Morgan Stanley says Australian unemployment is likely to keep rising

  Morgan Stanley says Australian unemployment is likely to keep rising Australian unemployment is rising again, increasing to 5.6% in April, according to data released by the ABS. As opposed to most other forecasters, Morgan Stanley thinks unemployment will rise further this year.

In Australia unemployment is measured by a monthly telephone survey of the labour force conducted by the Australian Bureau of Statistics (ABS). Usually, when the percentage of unemployed people increases the government analyzes the situation and enacts polices to tackle the problem that arose.

In Australia , the unemployment rate measures the number of people actively looking for a job as a percentage of the labour force. The economy added 17,500 jobs while the number of unemployed increased by 8,900. Published on 2018-03-22.

a group of people in a field© Provided by Business Insider Inc

Australia’s unemployment rose in April as the size of the labour force increased faster than employment.

According to the Australian Bureau of Statistics (ABS), employment grew by 22,600 in seasonally adjusted terms, coming in marginally ahead of forecasts for an increase of 20,000.

Full-time employment increased 32,700 to 8,543,400, reversing a similar decline recorded a month earlier. Part-time employment fell by 10,000 to 3,957,700, again the complete opposite to what was seen in March.

With full-time employment lifting strongly, total hours worked increased by a hefty 19.4 million hours, or 1.11%, to 1.764 billion hours.

The RBA doesn't sound very confident about the outlook for Australian wages

  The RBA doesn't sound very confident about the outlook for Australian wages RBA banking on wage growth to boost economic growth and lift inflationary pressures. Not confident it will pick up by any meaningful amount in the period ahead.That was clear to see in a speech delivered today by RBA deputy governor Guy Debelle, in which he all but admitted the risks for the bank's wage growth outlook are currently to the downside.

able increases in the unemployment rate over a very brief period . The seasonally adjusted U.S . unemployment rate reached a 42-year peak of 10 .7 percent in December 1982,; 30. while the Australian unemployment rate peaked at 10 .3 percent in March 1983 .4 These unemployment

In Australia unemployment is measured by a monthly telephone survey of the labour force conducted by the Australian Bureau of Statistics (ABS). An important trend in unemployment in Australia is the high incidence of long-term unemployment and the increasing duration of unemployment .

The largest increase in employment was seen in New South Wales, increasing by 27,100. That was followed by Western Australia, up 8,300, and South Australia at 2,700 persons.

In contrast, the largest declines were reported in Victoria and Queensland where employment fell by 10,000 and 8,200 respectively.

The NAB no longer sees a RBA rate hike this year

  The NAB no longer sees a RBA rate hike this year Australian wage and inflationary pressures remain weak, making it harder to justify rate hikes from the RBA.The National Australia Bank (NAB) no longer sees the Reserve Bank of Australia (RBA) lifting official interest rates this year, continuing the pattern seen among major bank forecasters in recent months.

1. In the Australian experience, unemployment has been a nagging, and sometimes intense, problem for the past 30 years. But as I will show, a sustained An increasing proportion of the part-time jobs is being taken by men, and a rising proportion (currently, about one quarter) of people who work

In September 2009, the federal government increased the single rate of age pension by more than per week – one of the largest pension increases in Australian history. It’s time the current government recognised that unemployment payments need to be increased . •

Total employment stood at 12,501,000, representing 61.9% of Australia's total working age population. The latter was unchanged from the level reported a month earlier.

Slightly offsetting the April jobs beat, employment in March, originally reported as a gain of 4,900, was revised down to show a decline of 700.

Over the year, full-time employment rose by 265,200, outpacing a 66,900 increase in part-time workers. Combined, total employment increased by a 332,100 from April 2017.

a screenshot of a cell phone© Provided by Business Insider Inc Despite the solid increase in employment last month, the unemployment rate rose to 5.6%, up from 5.5% in March.

Total unemployment increased by 10,600 to 741,000 as the size of Australia's labour force -- capturing those already employed or who are actively looking for work -- increase by a massive 33,200 people.

Reflecting that boost, the labour force participation rate rose 0.1 percentage point to 65.6%, above the 65.5% level expected.

By state and territory, unemployment rose in Queensland and South Australia but fell in Western Australia and Tasmania. Despite the divergence in hiring seen during the month, unemployment in New South Wales and Victoria -- Australia's most populous states -- held steady at 5% and 5.3% respectively.


The Australian dollar is a bit lower .
The Australian dollar had a mixed start to the week, falling against most of the major crosses except the New Zealand dollar. Broader movements in currency markets were dictated by geopolitics and continued strength in crude oil prices.The scoreboard below as at 7am AEST tells the story.

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