Australian Employment Rises

[Guest The Pom Queen]

The Turnbull government and Reserve Bank can breathe a sigh of relief heading into the long Easter weekend after new figures showed the number of people employed soared above the 12 million-mark for the first time.

The near-61,000 rise in employment in March was three times the number economists were expecting.

It may revive the spirits of consumers in time for one the busiest weekends of the year for retailers, with confidence having been in steady decline since the beginning of 2017.

"Australians are encouraged ... they are out there putting up their hands and saying 'I'm ready, willing and able to work," Employment Minister Michaelia Cash told reporters in Perth on Thursday.

Total employment grew by 60,900 in March after the figure for February was revised up to reflect a 2800 increase, from a previously recorded decline.

The March result included a 74,500 increase in full-time work, partly offset by a 13,600 decline in part-time jobs.

However, with the work participation rate rising as more people sought a job, the unemployment rate remained steady at 5.9 per cent - the highest level in more than a year.

"While RBA officials will take heart from the better tone of the March data, the fact that last month's pop in the jobless rate is now 'locked in' is likely to be a concern," JP Morgan economist Tom Kennedy said.

Labor frontbencher Ed Husic said an unemployment rate of 5.9 per cent was as bad as it got during the worst of the 2008-2009 global financial crisis.

He said the government needed a jobs plan beyond a tax cut for big business and cuts to penalty rates for ordinary workers.

"Where is their jobs plan, I can't find it," Labor's acting employment spokesman told reporters in Sydney.

However, Senator Cash said three million small businesses in Australia employing in excess of six million Australians will now get a tax cut under the government's tax plan.

"All of the small business owners I spoke to this week look forward reinvesting that additional money back into their business," she said.

The government secured parliamentary support for part of its 10-year business tax reduction plan earlier this month, which starts with an immediate tax cut to 27.5 per cent for businesses with a $10 million turnover.

Most of these firms had paid a rate of 30 per cent, apart from those with a turnover of $2 million which paid 28.5 per cent.

[ali]

I was listening to someone on local radio the other day who said that the 'talk' is a little more optimistic and it feels that there is a start to some recovery for jobs.

[newjez]

40 minutes ago, ali said:

I was listening to someone on local radio the other day who said that the 'talk' is a little more optimistic and it feels that there is a start to some recovery for jobs.

Sadly WA didn't look too rosey.

[Guest263228]

No matter how the employment raw numbers rose, the fact remains unemployment in percentage terms is on the rise. Another figure worth savouring being one third of those with a mortgage have little to no back up if/when interest rates rise or personal tragedy strikes, such as unemployment.  

Obviously the government and supportive media outlets will prefer to dwell on better news stories but the fact remains we are far from being out of the woods.

[newjez]

I have family members in banks in WA facing redundancy. Although it's not always a bad thing. They will get a good payout.