Having disappointed in April, markets are expecting Australia’s labour market to have improved modestly in May.
Here’s the state of play.
- In April the unemployment rose to 6.2%, up from 6.1% in March. Total employment fell by 2,900 with 21,900 full time positions lost during the month.
- In May markets are expecting net employment to have increased by 11,000 with unemployment and labour market participation expected to hold steady at 6.2% and 64.8% respectively.
- From April 2014 to April 2015, employment grew by 177,587. 100,580 of those positions were full time, 77,007 part time. At 11,724,600, the number of employed is the second-highest level on record.
- Expressed in percentage terms, employment increased by 1.5%. Full time grew by just 1.25%, the slowest annual growth since November 2014, while part time increased 2.2%, the fastest pace seen since September 2014.
- Over the same time period the labour force expanded by 230,854, or 1.9%. With employment increasing at only 1.5%, the number of unemployed increased by 53,267, or 7.4%.
- In April Western Australia recorded the lowest unemployment rate at 5.7% while Tasmania, at 7.3%, recorded the highest. New South Wales, Victoria and Queensland, Australia’s most populous states, had rates of 6.0%, 6.2% and 6.7% respectively.
- Quarterly underemployment and underutilisation figures as part of the May labour force report. These figures will provide a further indication of current slack within the labour market.
The ABS will release the employment report at 11.30am Sydney time today.
Business Insider will have full coverage once it hits.