Australia: Unemployment rate stays constant in October
November 17, 2016
Seasonally adjusted employment increased by 9800 people in October compared to the previous month, contrasting the 29000 jobs lost in September. October’s figure came in substantially below analysts’ expectations of an increase in employment of 20000 people. The rise in employment reflects an increase in full-time positions of 41500 in October (September: -74300), while the number of part-time positions fell by 31700 (September: +45300).
The labor market participation rate remained unchanged at 64.4% in October. The unemployment rate in October was also identical to September’s figure at 5.6%, marking the lowest reading in over three years.
Author: Oliver Reynolds, Economist