Tasmanian News

Solid jobs result

Tasmania's unemployment rate is steady, with the ABS just releasing April's results, showing the trend figure unchanged at 5.8%.

For Australia, the trend rate's also unchanged at 5.8%, but as Sky News Business correspondent Carson Scott observes, the seasonally adjusted figure has dropped due to thousands of new jobs being created.

"The rate on unemployment falling from 5.9 to 5.7% on a build of 37,400 jobs, a big beat on estimates where the call had been for just 5,000 (new jobs) added for that month."

Despite low wages growth, he expects this good result will probably mean the Reserve Bank will avoid moving interest rates.

"The idea that the Reserve Bank reluctantly in any case would be cutting rates at this point in the cycle given housing, this potentially just allows them to sit pat for that much longer." 

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