Unemployment rate rises to 4.6% as 138k jobs lost

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.

Unconventional Economist

Comments

    • Camden HavenMEMBER

      Inflation with a growing pool of un and under employed is interesting, government employees stuck with 2.5 % P/A maximum rises. Higher prices are not inflation that erodes debt, higher wages erode debt.