Australia: Unemployment rate stable in September
October 15, 2015
In September, the labor market lost 5,100 jobs compared to the previous month, in seasonally-adjusted terms. The decrease contrasted last month’s revised gain of 18,100 jobs (previously reported: +14,400 jobs). September’s tally also contrasted market expectations of a 5,000 job increase in September. September’s result was driven by a decrease in the number full-time jobs, while part-time positions increased. The number of part-time positions increased by 8,900 (August: +7,100 jobs), while the number of full-time positions fell by 13,900 (August: +11,000 jobs).
The labor market participation rate inched down to 64.9% in September from 65.0% in August. Due to the decrease in the number of jobs and the fall in the participation rate, the unemployment rate in September was stable at August’s reading of 6.2%.
Author: Robert Hill, Economist