Unemployment edges up to 5.6 per cent despite another jump in new jobs

Australia’s jobless rate has edged up to 5.6 per cent despite another 22,600 jobs being added in April.

The rise in unemployment was driven up by more people looking for work, with the participation rate in the workforce rising to a record 65.6 per cent.

In seasonally adjusted terms 32,700 new full-time jobs were created over the month, more than offsetting the loss of 10,000 part-time positions.

In trend terms, unemployment was flat while 14,000 new jobs were added.

“The labour force participation rate was the highest it has been since the series began in 1978,” Australian Bureau of Statistics chief economist Bruce Hockman said.

“It’s important to remember how much change there is in the labour market every month beneath a net increase of 14,000 persons.

“It’s actually well over 300,000 people entering employment, and more than 300,000 leaving employment in any given month.”

Source: ABC News
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