Australia Jobless Rate Below Estimates in September


Australia's seasonally adjusted unemployment rate unexpectedly edged down to 5.2 percent in September 2019 from a year-high of 5.3 percent in the previous month and less than market expectations of 5.3 percent. The number of unemployed decreased by 8,100 while employment rose 14,700.

The number of unemployed dropped by 8,100 to 709,600 in September. People looking for full-time work declined by 4,600 to 448,500 and those looking for only part-time work decreased 3,600 to 221,100. Male unemployment grew by 4,600 to 382,200, and female unemployment fell 12,800 to 320,900.

Employment increased by 14,700 to 12,944,000 people in September, missing market consensus of a 15,000 gain and compared to an downwardly revised 37,900 increase in August. Full-time employment increased by 26,200 to 8,847,200 people and part-time employment decreased by 11,400 to 4,096,900 people.

The participation rate inched lower 0.1 point to 66.1 in September, below forecasts of 66.2 percent. Meantime, the employment to population ratio remained steady at 62.7.

The underemployment rate increased 0.2 points to 8.3 percent in September, and the underutilisation rate was unchanged at 13.7 percent.

Seasonally adjusted monthly hours worked in all jobs increased by 4.1 million hours, or 0.2 percent, to 1,787.3 million hours.

Australia Jobless Rate Below Estimates in September


ABS l Rida Husna | rida@tradingeconomics.com
10/17/2019 1:09:55 AM