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As summarised earlier, the Australian Bureau of Statistics (ABS) today released labour force data for the month of October, which registered a sharp fall in the headline unemployment rate (from 6.2% to 5.9%) with a gain of 58,600 jobs, mostly full-time.
The result easily beat analyst’s expectations that the unemployment rate would remain steady.
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
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