Australia Jobless Rate Inches Higher to 5.3% in October

Australia's seasonally adjusted unemployment rate rose to 5.3 percent in October 2019 from 5.2 percent in the previous month and matching market expectations. The number of unemployed increased by 17,100 while employment unexpected fell for the first time in 17 months (-19,000).
ABS l Rida Husna | 11/14/2019 1:29:21 AM
The number of unemployed rose by 17,100 to 726,100 in October. People looking for full-time work went up by 13,000 to 500,300 and those looking for only part-time work increased 4,100 to 225,800. Male unemployment grew by 5,200 to 392,900, and female unemployment rose 11,900 to 333,200.

Employment decreased by 19,000 to 12,919,200 people in October, missing market consensus of a 15,000 gain and compared to a downwardly revised 12,400 increased in September. Full-time employment fell 10,200 to 8,833,800 people and part-time employment decreased by 8,700 to 4,085,400 people.

The participation rate inched lower 0.1 point to a four-month low of 66.0 in October, below forecasts of 66.1 percent. Meantime, the employment to population ratio dropped 0.2 points to 62.5 percent

The underemployment rate increased 0.2 points to 8.5 percent in October, and the underutilisation rate advanced 0.3 points to 13.8 percent.

Seasonally adjusted monthly hours worked in all jobs decreased by 2.8 million hours, or 0.2 percent, to 1,783.9 million hours.

Australia Jobless Rate Inches Higher to 5.3% in October