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As summarised earlier, the Australian Bureau of Statistics (ABS) today released its labour force report for October, which registered a 0.1% rise in the official unemployment rate to 7.0% but a 1.4% increase in jobs:
Full-time jobs surged by 97,000 and part-time employment by 81,800:
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The participation rate rose by 0.95% to 65.81%, which is why the unemployment rate rose despite strong jobs growth:
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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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