The ABS has released its Labour Force survey for October and the news is more of the same:
- Employment increased 9,800 to 11,938,900. Full-time employment increased 41,500 to 8,126,900 and part-time employment decreased 31,700 to 3,812,000.
- Unemployment decreased 2,000 to 705,100. The number of unemployed persons looking for full-time work increased 700 to 494,300 and the number of unemployed persons only looking for part-time work decreased 2,700 to 210,800.
- Unemployment rate remained steady at 5.6%.
- Participation rate remained steady at 64.4%.
- Monthly hours worked in all jobs increased 14.3 million hours to 1674.8 million hours.
It’s a miss on the headline numbers which were expected at 16k but some comfort in full time and hours worked. More to come.
