Australia Jobless Rate Unchanged at 6-1/2-Year Low of 5%


Australia's seasonally adjusted unemployment rate stood at 5 percent in October 2018, the same as in the prior month but slightly below market estimates of 5.1 percent. The jobless rate remained at its lowest level since April 2012.

In October, the number of unemployed increased by 4,600 to 672,100, as people looking only for part-time work went up 9,800 to 226,700, while those looking for full-time work decreased 5,200 to 445,400.

Employment went up 32,800 to 12,671,500, easily beating market consensus of an increase of 20,000. Full-time employment increased 42,300 to 8,703,700, while part-time employment fell 9,500 to 3,967,900.

The labor force participation rate edged up 0.1 points from a month earlier to 65.6 percent and slightly above forecasts of  65.5 percent. Meantime, the employment to population ratio rose by 0.1 percentage points to 62.3 percent.

Seasonally adjusted monthly hours worked in all jobs increased 6.1 million hours, or 0.3 percent, to 1,764.4 million hours.

Australia Jobless Rate Unchanged at 6-1/2-Year Low of 5%


Rida | rida@tradingeconomics.com
11/15/2018 12:58:16 AM