Why unemployment figure is bad news for getting a pay rise

Employment conditions at record high

However, the jobless rate ticked up to 5.6 per cent in April as more people sought employment, encouraged by last year's record jobs growth.

So if you already have a job and are holding out for a wage increase these figures show you will be waiting a lot longer.

In line with the increasing participation rate, employment increased by around 14,000 with part-time employment increasing by 8,000 persons and full-time employment by 6,000 persons in April 2018. That means employers have greater control of pay levels. According to this survey, seven of Kentucky's 11 major nonfarm North American Industry Classification System (NAICS) job sectors experienced employment growth from the previous month, while three sectors saw employment decreases in April and one was unchanged.

More than one million people have found employment since the coalition government came to power in September 2013, fulfilling an election promise by former Liberal leader Tony Abbott to reach that target in five years.

This "continues a period of subdued first quarter rises, primarily driven by regular increases in the education and training and health care and social assistance industries", said Mr Hockman. Markets now look ahead to a greater flow of data on Thursday, highlighted by Philadelphia Fed manufacturing, jobless claims and Conference Board leading indicators data, followed by a 10-year TIPS auction later in the session.

The group's report found average nominal and real wages growth - the increases without accounting for inflation and the real buying power of rises when inflation is taken into account - went backwards over the decade from 2007 and fell to historically slow rates in 2016.

"Stagnating wages growth, high unemployment, a youth jobs crisis in regional Queensland and flat-lining business confidence are all symptoms of Labor's economic mismanagement", he said.

The budget forecasts wage growth accelerating to 3.25 per cent by 2019/20 when a small surplus is predicted and 3.5 per cent thereafter.

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