A hard slog ahead for the labour market

Despite an improvement in labour market conditions in April, there will be a range of obstacles that will challenge the labour force in the short and long term.

The unemployment rate might have peaked, but there remain considerable challenges to overcome if labour market conditions are to improve significantly. The budget next week marks the first of those challenges.

On a seasonally adjusted basis, the unemployment rate remained at 5.8 per cent in April, beating market expectations, and is 0.2 percentage points higher over the year. The trend measure was a touch higher at 5.9 per cent.

Graph for A hard slog ahead for the labour market

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