In October, the labour market added 10,700 jobs over the previous month in seasonally adjusted terms. The figure was below the 15,500 increase recorded in September (previously reported: +14,500 jobs) but contrasted market expectations of 5,000 jobs lost. The reading was driven by an increase in full-time jobs (+18,700), which more than compensated for a drop in part-time positions (-8,000). Meanwhile, the number of total job seekers dropped by 8,800 persons in October (September: +38,800). Despite the decrease, the unemployment rate was unchanged at September's 5.4%, the highest jobless rate since April 2010, but was below market expectations of unemployment inching up to 5.5%.
Unemployment rate steady at more-than-two-year high
November 8, 2012
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Australia Unemployment Chart
Note: Seasonally adjusted unemployment rate in % and new jobs in thousands.
Source: Australian Bureau of Statistics.
Australia Economic News
October 12, 2016
The Westpac-Melbourne Institute Survey of Consumer Sentiment increased 1.1% in October as the index rose from September’s 101.4 to 102.4.
October 11, 2016
The business confidence index published by the National Australia Bank (NAB) was stable in September at August’s 6 points.
October 5, 2016
Nominal retail sales inched up 0.4% in August from the previous month in seasonally-adjusted terms, up from July’s flat reading.
October 4, 2016
At its 4 October monetary policy meeting, the Reserve Bank of Australia (RBA) kept its policy rate steady at an all-time low of 1.50% after cutting its rate by 25 basis points twice this year, once in May and once in August.
September 15, 2016
The labor market lost 3,900 net new jobs in August compared to the previous month in seasonally-adjusted terms.