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Employment data
Date: Thursday, November 16 at 11.30 am AEDT
In September, the Australian economy added 6.7k jobs, below the expected 20k, while the unemployment rate edged down to 3.6% from 3.7%, following a decrease in the participation rate to 66.7% from 67%.
Kate Lamb, ABS Head of Labour Statistics, stated, “With a slight increase in employment, by around 7,000 people, and the number of unemployed people falling by around 20,000, the unemployment rate fell to 3.6% in September. It is important to note that a decrease in unemployment does not always signify a substantial increase in employment. The decline in the unemployment rate in September primarily reflected a higher proportion of people moving from being unemployed to not in the labour force.”
For October, the market anticipates a rise of 20k in employment and an increase in the unemployment rate to 3.7%. The participation rate is expected to remain stable at 66.7%.
AU unemployment rate chart
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