Unemployment falls anew

The ABS with the data.

In trend terms, in October 2025:

unemployment rate remained at 4.4%.
participation rate increased to 67.0%.
employment increased to 14,678,400.
employment to population ratio remained at 64.0%.
underemployment rate remained at 5.8%.
monthly hours worked increased to 1,993 million.

In seasonally adjusted terms, in October 2025:

unemployment rate decreased to 4.3%.
participation rate remained at 67.0%.
employment increased to 14,683,200.
employment to population ratio remained at 64.0%.
underemployment rate decreased to 5.7%.
monthly hours worked increased to 1,999 million.
full-time employment increased by 55,300 to 10,141,600 people.
part-time employment decreased by 13,100 to 4,541,600 people.

Stand by for rate hike hysteria.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.