Employment conditions at record high

Employment conditions at record high

Employment conditions at record high

Kentucky's seasonally adjusted preliminary April 2018 unemployment rate was 4 percent, according to the Kentucky Center for Education and Workforce Statistics (KCEWS), an agency of the Kentucky Education and Workforce Development Cabinet.

The one million mark ticked over after new figures showed 22,600 people found employment in April, with an increase of 32,700 in full-time workers offset by a drop in part-timers.

"Kentucky's unemployment rate remained at its lowest level in April despite a slight decline in payroll employment", said University of Kentucky's Center for Business and Economic Research (CBER) Director Chris Bollinger, Ph.D.

The Australian dollar has been boosted by the data, trading at 75.27 U.S. cents at 1200 AEST, up from 75.18 USA cents just prior to the release. The number of unemployed persons looking for full-time work decreased 17,100 to 506,100 and the number of unemployed persons only looking for part-time work increased 27,600 to 234,900.

The yield on Australia's benchmark 10-year Note, which moves inversely to its price, rose 1-1/2 basis points to 2.904 percent (3-month high), the yield on the long-term 30-year Note jumped 1 basis point to 3.380 percent and the yield on short-term 2-year up 1/2 basis point to 2.070 percent by 03:00 GMT.

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BIS Oxford Economics head of macroeconomics Sarah Hunter said slower job creation was not a surprise.

NSW was the strongest performing state, with a 27,100 more people employed, followed by Western Australia, up 8,300, and South Australia, improving 2,700.

The March figure had prompted concerns about the state of the WA economy. It has remained between 5.4 percent and 5.6 percent for nearly a year.

The fall was driven by men with their unemployment rate falling to 6.6 per cent from 7.2 per cent.

With labour supply expanding to meet demand, there is less upward pressure on wages and inflation and thus no near-term trigger for a rise in interest rates from the Reserve Bank of Australia (RBA).

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