Australia Jobless Rate Falls to 4-Month Low of 5.5%


Australia's seasonally adjusted unemployment rate unexpectedly fell to 5.5 percent in September of 2017 from 5.6 percent in the previous month and below market expectations of 5.6 percent. It was the lowest jobless rate since May.

In September, the number of unemployed decreased by 11,800 to 711,500. The number of unemployed persons looking for full-time work declined by 10,600 to 487,100 and the number of unemployed persons only looking for part-time work fell by 1,200 to 224,400.

Meanwhile, employment went up by 19,800 to 12,290,200, the smallest rise since February, but beating estimates of a 15,000 increase: Full-time employment rose by 6,100 to 8,398,200 while part-time employment increased by 13,700 to 3,892,000.

The labour force participation rate stood at 65.2 percent, unchanged from the preceding month. The figure remained the highest since January 2016 and in line with market  expections.
 
Seasonally adjusted aggregate monthly hours worked in all jobs increased 11.2 million hours (0.7 percent) to 1,718.2 million hours. Meantime, the seasonally adjusted employment to population ratio remained steady at 61.6 percent.

Australian Bureau of Statistics l Chusnul Ch Manan | chusnul@tradingeconomics.com
10/19/2017 10:17:10 AM