Australian employment report for September
Unemployment rate: 4.6% for a beat but higher than the previous month
Full-time job change: + 26.7K
Part-time job change: -164.7 K
Activity rate: 64.5% … this (very strong) drop helps explain that the unemployment rate is not as bad as expected
- expected 64.7%
before was 65.2%
The total number of hours worked is on the rise, +15 million hours
The number of people employed is back to its December 2020 level and below its pre-pandemic level.
- 0.9% below the pre-pandemic peak
- down 2.2% in the last two months
AUd is little changed. An economic rebound is expected as the states of NSW and Vcitoria, just under 50% of Australia’s population, gradually reopen in the coming weeks.
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