The ABS is out with September Labour Force and the news is decent:
SEPTEMBER KEY POINTS
- Employment increased by 20,200 to 12,942,800 people. Full-time employment increased by 9,000 to 8,840,200 people and part-time employment increased by 11,300 to 4,102,600 people.
- Unemployment increased by 1,600 to 718,000 people.
- Unemployment rate remained steady at 5.3%.
- Participation rate remained steady at 66.2%.
- Monthly hours worked in all jobs increased by 2.7 million hours to 1,783.7 million hours.
SEASONALLY ADJUSTED ESTIMATES
- Employment increased by 14,700 to 12,944,000 people. Full-time employment increased by 26,200 to 8,847,200 people and part-time employment decreased by 11,400 to 4,096,900 people.
- Unemployment decreased by 8,100 to 709,600 people.
- Unemployment rate decreased by 0.1 pts to 5.2%.
- Participation rate decreased by 0.1 pts to 66.1%.
- Monthly hours worked in all jobs increased by 4.1 million hours to 1,787.3 million hours.
- The monthly trend underemployment rate remained steady at 8.4%. The monthly underutilisation rate remained steady at 13.7%.
- The monthly seasonally adjusted underemployment rate decreased by 0.2 pts to 8.3%. The monthly underutilisation rate decreased by 0.2 pts to 13.5%.
Hit expectations on the button for jobs growth. Little drop in UE rate was better than expected as PR came off a touch. AUD up on nothing burger.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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