Queensland jobless rate equal worst in the nation

Employment conditions at record high

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.

However, disappointing unemployment rate paused the rise in the bond yields across the curve.

The unemployment rate remained steady at 5.5%. There was also a lift in the participation rate which measures the number of people in work or looking for employment.

That follows two months of falls in employment, and takes the increase in job numbers for the first quarter of the 2018 to 52,900, after a rise of over 400,000 in 2017.

Monthly hours worked in all jobs increased 19.4 million hours (1.11%) to 1,764.0 million hours.

On June, 14 Ascena Retail Group, Inc. (ASNA) Analysts See $-0.10 EPS
Teachers Retirement Of The State Of Kentucky owns 57,300 shares or 0% of their USA portfolio. ( NASDAQ : ASNA ) for 94,494 shs. This number is based on a 1 to 5 scale where 1 indicates a Strong Buy recommendation while 5 represents a Strong Sell.

The RBA last cut rates to a record low 1.5 percent in August 2016 and is seen likely to keep policy unchanged for another year as it awaits a pick up in wage growth and consumer prices.

Unemployment increased 10,600 to 741,000.

"It is hard to see a meaningful pick up in wages given that employment growth is expected to be good for the remainder of 2018, but not spectacular", said Diana Mousina, senior economist at AMP.

And with economic growth expected to pick up, he was reasonably confident that unemployment will resume a gradual downward trend, which will also lead to a pick-up in wages.

Across the States, the jobless rate was steady in NSW (at 5 per cent), Victoria (5.3 per cent), the Northern Territory (4.3 per cent) and the ACT (4 per cent) while it edged down in Tasmania (to 6 per cent).

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