In October, the labour market added 10,100 jobs over the previous month in seasonally adjusted terms, which was down from the 22,500 jobs created in September (previously reported: +20,400 jobs), but was broadly in line with market expectations that 10,000 new jobs would be created. The October reading reflected an increase in the number of full-time jobs (+20,000) and a decrease in part-time positions (-9,900 jobs). Meanwhile, the number of total job seekers dropped by 5,700 persons in October (September: -3,100). As a consequence of the decline in the number of job seekers, unemployment inched down from 5.3% in September (previously reported: 5.2%) to 5.2% in October, which beat market expectations of a 5.3% unemployment rate.
Unemployment inches down in October
November 10, 2011
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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.