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From The ABS:
Key statistics
Seasonally adjusted estimates for September 2021:
- Unemployment rate increased to 4.6%.
- Participation rate decreased to 64.5%.
- Employment decreased to 12,884,600.
- Employment to population ratio decreased to 61.5%.
- Underemployment rate decreased to 9.2%.
- Monthly hours worked increased by 15 million hours.
The result missed analysts’ expectations of 120,000 job losses, although the unemployment rate beat (expected 4.8%).
I’ll be back later with my detailed report.
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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