Queensland jobless rate equal worst in the nation

Queensland jobless rate equal worst in the nation

Economists had expected employment to rise by 20,000, although they had thought the unemployment rate would have remained at 5.5 per cent.

There were 32,700 more full-time jobs in April, while part-time employment fell 10,000, and the participation rate was up slightly at 65.6 per cent, from 65.5 in March.

The Australian economy added 22.6K jobs in April, still, the unemployment rate ticked higher to 5.6 percent from the previous month's reading of 5.5 percent, the Australian Bureau Statistics (ABS) data showed.

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

He noted that the unemployment rate declined 0.25 percentage points over the past year and is expecting something similar over the year ahead. This continued the recent slowing of employment growth, particularly full-time employment growth.

So what gives? Isn't booming employment growth supposed to lead to lower unemployment? It has remained between 5.4 percent and 5.6 percent for nearly a year.

NAB said this is consistent with a robust rate of jobs growth, of around 24K per month based on historical patterns.

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

"This will keep a lid on wages growth and price inflation, and will keep the RBA on the sidelines until at least the December quarter 2019".

The trend hours worked increased by 4.7 million hours or 0.3 per cent in April 2018 and by 3.3 per cent over the past year.

Over the past year, the states and territories with the strongest annual growth in trend employment were New South Wales (3.8 per cent), Queensland (3.5 per cent) and the Australian Capital Territory (2.7 per cent).

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