Via ABS Labor Force just now and the numberwang continues with an absurd 178k jobs created versus consensus of -40k based upon the ABS’s own payrolls data:
Seasonally adjusted estimates for October 2020:
- Unemployment rate increased to 7.0%.
- Participation rate increased to 65.8%.
- Employment increased to 12,773,900.
- Employment to population ratio increased to 61.2%.
- Underemployment rate decreased to 10.4%.
- Monthly hours worked increased by 21 million hours.
Honestly, the ABS has just about destroyed its credibility on the labour market.
Much more to come…