Australia: Unemployment rate steady at 12-year high
November 6, 2014
In October, the labor market gained 24,100 jobs compared to the previous month in seasonally-adjusted terms, which contrasted the revised 23,700 jobs loss in September (previously reported: 29,700 loss). The figure overshot market expectations of a 10,000 gain. The increase in jobs was driven by a rise in full-time positions (33,400 created), whereas 9,400 part-time positions were lost.
Labor market participation increased slightly to 64.6% in October from September’s 64.5%. The unemployment rate remained at September’s twelve-year high of 6.2% in October.