Australia: Unemployment inches down in October
November 10, 2011
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.
Author: Armando Ciccarelli, Head of Data Solutions