US EditionJobless rate steady ahead of RBA rates decision
- Australia’s unemployment rate remained unchanged at 4.1 percent in April, while the labor market saw a strong increase of 89,000 jobs, with women accounting for the majority, according to ABS figures released ahead of the RBA meeting.
- This stable jobless rate follows several months of low unemployment despite a stronger-than-expected rise in wages driven by industry awards and enterprise agreements.
- Female employment grew by 65,000, with full-time jobs increasing by 59,500 and the participation rate for ages 35 to 44 rising significantly to 88.3 percent.
- According to an economist from CBA, wages growth is anticipated to decelerate to around 3 percent in the coming year, driven by a reduction in the growth of individual arrangements.
- These results indicate a robust labour market but sustain the RBA's concern that tightness could rekindle inflation, influencing the interest rate decision scheduled for May 20.
11 Articles
11 Articles
Jobless claims hold steady in latest week, continuing to signal healthy labor market
Initial jobless claims held steady at 229,000 in the week ending May 10, the Labor Department said Thursday. Article Attribution | Read More at Article Source The post Jobless claims hold steady in latest week, continuing to signal healthy labor market appeared first on RocketNews.
Women drive job gains as unemployment rate remains at 4.1%
SBS Finance Editor Ricardo Gonçalves speaks with HSBC Chief Economist Paul Bloxham to find out if Australia's tight labour market will impact the RBA's interest rate decision next week, plus a check on global markets with Elizabeth Tien from Citi.
Unemployment Holds at 4.1 Percent as Job Market Absorbs More Workers
Australia’s unemployment rate stayed steady at 4.1 percent in April, even as more people entered the job market and total employment continued to grow. According to the latest data from the Australian Bureau of Statistics (ABS), the economy added 89,000 jobs last month. The number of unemployed people also rose slightly—by 6,000—as more Australians actively looked for work. This marks the second consecutive month with a 4.1 percent unemployment …
Rate cut odds lengthen after surprise employment jump
The unemployment rate held steady in April as traders pencil in a Reserve Bank rate cut. (Joel Carrett/AAP PHOTOS) By Jacob Shteyman in Canberra The chances of a second interest rate cut have been pared back after the economy produced thousands of new jobs, in a further sign of a robust labour market. The unemployment rate held steady at 4.1 per cent in April, as was widely expected, but the Australian Bureau of Statistics also recorded an 89,0…
Coverage Details
Bias Distribution
- 50% of the sources lean Right
To view factuality data please Upgrade to Premium
Ownership
To view ownership data please Upgrade to Vantage
