Feb 25, 2018 Last Updated 10:02 AM, Feb 23, 2018

New Entry From the Editor :

Australia slips to second place in mining investment attractiveness ratings

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AusBN - Australia has fallen to second place in the Fraser Institute’...

Wesfarmers reports 87% H1 profit plunge on business write-downs

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AusBN - Wesfarmers (ASX:WES) has reported an 86.6% nose-dive in its H1 net ...

Australian female labour force participation reaches record high

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AusBN - Australia’s female labour force participation rate reached a ...

Unemployment rate drops to 5.7% in April

construction site workersAusBNABN - Australia’s unemployment rate dropped to 5.7% in April, with 37,400 jobs added to the economy during the last month.

The Australian Bureau of Statistics (ABS) reported the reduced unemployment rate in its latest employment report, although full-time employment dropped by 11,600.

However, this was offset by a 49,000 rise in part-time employment over the month, creating an overall picture of increased stability within the jobs sector.

Total worked hours fell 0.3% last month, but part-time workers have seen a 3.6% rise in hours over the last year, while the hours worked by full-time staff has remained flat during this period.

In the last year, total employment growth was 1.3%, which ABS contend is still below the average of the past 20 years, which stands at 1.8%.

Bruce Hockman, general manager of the ABS Macroeconomic Statistics Division, said: "For almost 18 months, the trend unemployment rate has been relatively stable, at around 5.7% to 5.8%."

@AusBNOnline

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