The unemployment rate in WA tumbled in April with the number of people holding a job in the State at its highest level this year. Softer growth has mainly been felt through full-time roles.
"The government might try and gloat today that they have reached a certain benchmark in jobs growth and yet. we are not seeing the so-called green shoots of wages growth as promised by the treasurer", Labor employment spokesman Brendan O'Connor said. NAB said this is consistent with a robust rate of jobs growth, of around 24,000 per month based on historical patterns.
It has remained between 5.4 percent and 5.6 percent for nearly a year even as annual job growth accelerates at 2.7 percent, more than one-and-a-half times the US pace of job creation of 1.6 percent.
Meanwhile, the S&P/ASX 200 index traded 0.20 percent lower at 6,098.5 by 03:35 GMT, while at 03:00GMT, the FxWirePro's Hourly AUD Strength Index remained highly bullish at 135.87 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend).
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High spare capacity in Australia's labour market is one reason for the subdued wage outcome. Real wage growth - that is wages adjusted for inflation - have barely increased in the past five years and declined outright in the March quarter.
One of the brighter spots, however, was in hours worked.
The fall was driven by men with their unemployment rate falling to 6.6 per cent from 7.2 per cent.
Over the past year, the states and territories with the strongest annual growth in trend employment were New South Wales (3.8 per cent), Queensland (3.5 per cent) and the Australian Capital Territory (2.7 per cent).