Australia released employment figures are astounding for the month of October, the ABS reported increased employment changes by 58.6 thousand jobs (seasonally adjusted).
Full-time work came in 40 thousand versus the previous -10.4 thousand, while part-time saw a leap of 18.6 thousand. Australia's unemployment rate ticked down to 5.9% vs 6.2% expected and previous 6.2%, with a participation rate of 65% vs. 64.9% expected and prior 64.9%.
Key figures in October
TRENDS FORECAST (CHANGE IN MONTHLY)
Employment increased to 11.8154 million.
Unemployment declined to to 764 900.
The unemployment rate held steady at 6.1%.
The participation rate remained stable at 65.0%.
Monthly hours worked in all jobs increased 5.7 million hours to 1647.1 million hours.
ESTIMATED ADJUSTED SEASON (CHANGES MONTHLY)
Employment increased 58,600 into 11.8382 million. Full-time employment increased by 40,000 to 8.1716 million and part-time jobs increased by 18,600 into 3.6666 million.
Unemployment decreased 33.4 thousand to 739.5 thousand. The number of people unemployed who are looking for full-time employment fell 30,300 to 526 300 and the number of unemployed people who are only looking for part-time jobs decreased 3,100 to 213 200.
The unemployment rate fell by 0.3 points to 5.9%.
The participation rate increased by 0.1 points to 65.0%.
Monthly hours worked in all jobs increased 19.1 million hours (1.2%) to 1660.4 million hours.
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