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The latest Roy Morgan Research (RMR) unemployment estimate for October showed strong improvement, falling by 0.9% over the month to 7.8%:
Over the year, unemployment fell by 1.6%.
Underemployment has also fallen by 0.3% over the past year to 8.9%, with labour underutilisation tracking at 16.7% (down from 1.9% from a year ago):
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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.